Wolfspeed is trading 8.12% down at $31.60 as semiconductor stocks sell off broadly amid rising bond yields and escalating Middle East tensions.
- SOXX ETF is down 2.78%, while the Philadelphia Semiconductor Index has also faced heavy selling pressure.
- Investors are additionally positioning ahead of Wolfspeed’s August 19 fiscal fourth-quarter results, where analysts expect $150 million in revenue and a $2.45 non-GAAP loss.