Wolfspeed Inc. (WOLF) experienced a significant 24-hour plunge of 7.65% during overnight trading on Friday, as the semiconductor manufacturer's stock was caught in a broad market downturn.
The decline was part of a wider selloff in chip and storage stocks, with sector peers including Intel, ARM, SanDisk, and Micron also falling sharply in overnight trading.
Broader market indicators showed weakness, with Nasdaq 100 futures dropping 1% and S&P futures falling 0.6%, contributing to the negative sentiment across technology and semiconductor sectors.
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