Is Cree Stock Doomed? 1 Analyst Thinks So

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

It's been a rough year for owners of Cree (NASDAQ: CREE) stock.

Over the past year, Cree stock has slumped 4% while the S&P 500 has marched 12% higher -- 16% underperformance for the shares. This bad news got even worse on Wednesday, with Cree shares trading down 10% pre-market in response to the company's fourth-quarter loss, which was announced last night. And now, the downgrades have begun rolling in on Wall Street.

Source: Fool.com