Activist Jana Partners calls for a strategic review at Wolfspeed. Here’s how it may develop
Publishing timestamp: 2024-04-27 09:46:43
Summary
Jana, an activist investor, has urged Wolfspeed to review strategic alternatives, including a possible sale of the company. Wolfspeed is facing supply and ambition problems with delays in the rollout of new facilities. Jana recommends prioritizing execution, setting realistic targets, and outlining clear plans for capital expenditures to regain market confidence. The company's stock price has dropped significantly, and a sale at a premium is unlikely. Jana suggests potential investment from a strategic investor to address supply issues.
Sentiment: MIXED
Tickers: WOLF,
Keywords: wolfspeed inc, hedge funds, business news,