🔴 Wolfspeed is trading 5.93% down in pre-market amid semiconductor selling on data-center and regulatory concerns

Wolfspeed is trading at $21.44, down 5.93%, as broad semiconductor selling amid data-center and regulatory concerns weighs on shares.

• Fiscal Q1 revenue was $155 million, above the guidance midpoint, with sequential margin improvement; Q2 revenue guidance is $155–$175 million.
• Non-GAAP gross margin remained negative, and operating cash flow was -$84 million.