Wolfspeed Shares Plummet 18% on Disappointing Guidance 
<p><a href='https://financialmodelingprep.com/financial-summary/WOLF'>Wolfspeed (NYSE:WOLF)</a> shares plunged more than 18% on Thursday following the company’s reported Q1 results. While both EPS of ($0.04) and revenue of $241.3 million came in better than the Street estimates of ($0.05) and $239.77 million, respectively, the guidance was disappointing.</p>
<p>The company expects Q2 revenue to decline to $225 million at the midpoint of a range, worse than the Street estimate of $252.6 million. EPS is expected to be in the range of ($0.16)-($0.08), compared to the Street estimate of $0.01.</p>
<p>Oppenheimer analysts said they were impressed with the cadence of design-ins and the conversion to design wins and the electrification of the transportation market accelerates. The analysts also believe the company has numerous sources of capital for its capacity build-out (including both federal and state level support as well as customer deposits and project debt/equipment finance) but expect shares to remain under pressure until uncertainty around capital sources is removed.</p>

NYSE:WOLF