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Wolfspeed Shares Plunge on Revenue Warning, Job Cuts

By MarketWatch   |   Nov 7, 2024 at 08:41 AM EST
Wolfspeed Shares Plunge on Revenue Warning, Job Cuts

Wolfspeed's market value dropped by 23% as it announced layoffs and manufacturing cuts due to lower revenue. The company reported a loss of $282.2 million in the latest quarter, missing revenue expectations.

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