Shares of silicon carbide chipmaker Wolfspeed (NYSE: WOLF) plunged 47.1% in March, according to data from S&P Global Market Intelligence .
This comes at a time when the Commerce Secretary Howard Lutnick hinted at the possibility of withholding CHIPS Act funding.
According to Bloomberg, Commerce Secretary Howard Lutnick has indicated he may withhold Chips Act grants as he presses semiconductor companies to expand their U.S. manufacturing investments.
From chip designers to chip makers, the semiconductor industry was buzzing last week.
Do investors hate Wolfspeed's new CEO, or Wolfspeed itself?
The sharp decline erased half of the company’s market capitalization within hours of the U.S. market opening, making it the top trending ticker on Stocktwits.
From solar photovoltaic makers to thermal imaging solutions providers and Arm chip makers, the semiconductor industry was buzzing last week.
Wolfspeed (NYSE: WOLF) is yet another company feeling the impacts of the slower-than-expected expansion of the EV industry.
President Donald Trump proposed eliminating the federal semiconductor grant during a joint session of Congress on Wednesday.