If You'd Invested $10,000 in Wolfspeed 3 Years Ago, Here's How Much You'd Have Today

I used to own some Wolfspeed (NYSE: WOLF) stock, starting in March 2020, right after the COVID-19 crash. The company was known as Cree at the time, an experienced maker of LED light elements. Cree was expanding its gallium nitride (GaN) and silicon carbide (SiC) chip-making capacity, and the company seemed poised for great returns as a leading parts supplier to the electric vehicle industry.The company sold its LED business, doubled down on its specialized semiconductors, and drew closer to breakeven bottom-line results (starting from deep losses) over the next couple of years.But it also burned a ton of cash and the success I expected in electric vehicle chips never seemed to materialize. So I lost patience with the investment thesis and closed my Wolfspeed position at the end of November 2022 with a 129% gain. Not too shabby!Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool