On August 20, Wolfspeed Inc. declined 9.08% overnight, trading at $26.45/share, with turnover of $5,316.93. The drop followed the company's fiscal Q4 earnings release after market close, which revealed a significant revenue miss and widening losses.

Wolfspeed reported fiscal Q4 revenue of $149.6 million, falling sharply short of the consensus estimate of $224.475 million and declining from $197 million a year earlier. Adjusted EPS came in at a loss of $2.26, wider than the year-ago loss of $0.77. GAAP gross margin was -25%, with adjusted gross margin at -20%. Adjusted EBITDA was -$62 million, and operating cash flow was -$54 million. For fiscal Q1, management guided revenue of $140 million to $160 million, with a midpoint of $150 million, slightly below the analyst estimate of $150.4 million.

The earnings disappointment compounded existing pressure from the prior two sessions, during which the stock had already fallen approximately 16% after an independent research report indicated that large-scale adoption of 800V DC power architecture would be delayed beyond 2028, undermining near-term expectations for Wolfspeed's recently announced AI data center partnership with Liteon Technology.

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