Wolfspeed extends losses amid CEO change

Wolfspeed (Pre-Reincorporation)

28/03/2025 12:45

** Shares of chipmaker Wolfspeed WOLF.N fall 38% to $3.3 in premarket trading

** On Thursday, the company named chip industry veteran Robert Feurle as its CEO effective May 1

** About 32.5% of WOLF's free float is in short position, according to Ortex estimates as of March 27

** In November, WOLF ousted top boss Gregg Lowe without cause

** Up to last close, WOLF down 19.2% YTD

 (Reporting by Kritika Lamba and Medha Singh in Bengaluru)

 ((Kritika.Lamba@thomsonreuters.com))