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Technology Stocks : Wolf speed -- Ignore unavailable to you. Want to Upgrade?

To: teevee who wrote (10654)	8/31/2024 12:02:20 PM
From: Lou Weed	Read Replies (1) \| Respond to of 10711

I'm just swing trading it right now with the hopes that one of my positions is on when they announce a takeover bid. Can't see why someone like Onsemi, ADI or TXN wouldn't jump at it right now. Lowe has really stunk the joint up here......

To: teevee who wrote (10654)	8/31/2024 12:53:26 PM
From: EvanG	Respond to of 10711

From what I have seen it is mainly Chinese articles taking about bankruptcy finance.sina.com.cn Analyst Lu Xingzhi said about Wolfspeed's financial situation: "Looking at Wolfspeed's financial report figures, I feel that this company is going to declare bankruptcy protection or sell at a low price . It used to have a good hand, but now it has become a bad hand." He pointed out that the company faces a full cost of up to $17,000 (currently about RMB 121,000) for each $10,000 (currently about RMB 71,257) wafer sold, resulting in huge losses. He also mentioned that the company currently has $2.2 billion in cash reserves, but faces a capital expenditure of at least $600 million per quarter, and its financial situation is precarious.