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Is Wolfspeed Stock a Buy Now?

TheMotleyFool

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Is Wolfspeed Stock a Buy Now?: https://g.foolcdn.com/editorial/images/737666/semiconductor.jpg

(NYSE: WOLF), the chipmaker formerly known as Cree, saw its stock price hit a record high of $141.87 on Nov. 16, 2021. At the time, investors were dazzled by its rapid post-pandemic recovery and the growth potential of its specialty chips.

But today Wolfspeed stock trades at about $50. It lost its luster as its growth cooled off, it remained unprofitable, and rising interest rates deflated its valuations. Does that steep pullback represent a good buying opportunity for long-term investors?

Image source: Getty Images.

Source Fool.com