Is the New and Improved Cree a Buy Today?
I started a position in Cree (NASDAQ: CREE) seven months ago. At the time, I expected the company to build long-term value from slow but stable growth in its light-emitting diode business, perhaps with a jolt of more exciting results from its Wolfspeed semiconductor unit. That investment thesis was turned on its head on Monday when Cree sold the LED division to specialty computer memory expert SMART Global Holdings (NASDAQ: SGH).
This game-changing deal forced me to take a good, hard look at my Cree investment to see whether I should cash in my shares, hold tight, or buy more. Here's what I learned.
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Source Fool.com
