Wolfspeed Stock Sank Today -- Is This a Buying Opportunity?

Wolfspeed (NYSE: WOLF) stock saw a big sell-off on Wednesday. The company's share price fell 19.8% in the session, despite a 0.6% gain for the S&P 500 and a 0.9% jump for the Nasdaq Composite.Today's big valuation pullback for Wolfspeed stock was a reaction to a much bigger gain that occurred across Monday's and Tuesday's trading. The silicon-carbide specialist announced at the beginning of the week that it had named Gregor van Issum as its next chief financial officer.Leadership in this role is important because the company will be moving through a Chapter 11 bankruptcy and restructuring. However, the gains in the company's share price in Monday's and Tuesday's trading may have been significantly out of step with what the CFO news will mean for the company's current shareholders.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool