Is Wolfspeed an Underrated Buy or Just Another Meme Stock?

Wolfspeed (NYSE: WOLF) has been one of the most volatile stocks on the market this year. As of Monday's close, it was down around 80% since the start of the year, and in the early stages of Chapter 11 bankruptcy proceedings. Yet, despite seemingly atrocious returns and no shortage of headwinds, investors have been buying up the stock in the early part of July.The company, which refers to itself as "pioneers of silicon carbide, and creators of the most advanced semiconductor technology on earth," has amassed losses totaling more than $1.1 billion over the past four quarters. However, it has brought on a new chief financial officer with an extensive track record of transforming and restructuring businesses, which has made investors bullish on its ability to turn things around.Could Wolfspeed be an attractive stock to buy on weakness, or has it simply become the latest meme stock?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool