🔴 Wolfspeed is trading 6.7% down today as technology shares weaken

Wolfspeed is trading 6.7% down at $25.13, amid tech weakness and renewed concerns about returns on AI spending.

• Nasdaq Composite is down 1.35%; October 29 reporting links semiconductor weakness to Alphabet’s results and uncertainty over rising AI costs.
• On October 29, Wolfspeed announced a multiyear silicon-carbide supply agreement with BorgWarner supporting its 800V EV inverter platform. Available reports cite no clear company-specific negative catalyst; the decline appears more consistent with broad market sentiment than that announcement.