Shake-Up Alert: 40 Companies Facing Activist Pressure

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26. Jana Partners at Wolfspeed, Inc. (NYSE:WOLF)

Stock Return: – 52%

S&P 500 Return: 17%

Investment date: 11/12/2023

Number of hedge funds holding stakes: 33

Wolfspeed, Inc. (NYSE:WOLF) specializes in silicon carbide technologies within the semiconductor sector. It offers solutions aimed at enhancing energy efficiency and promoting a sustainable future. Its range of products encompasses silicon carbide materials and power components designed for various uses, including electric vehicles, rapid charging, and renewable energy and storage systems.

Activist investor Jana Partners has been pushing Wolfspeed, Inc. (NYSE:WOLF) to consider all available options to unlock value, including considering a sale of the entire business. The remarks come on the company losing more than 60% in market value in 2023. Wolfspeed, Inc. (NYSE:WOLF) also shed about 54% in market value in 2024 due to missing financial and operational efficiencies as of Q1 2024. 33 hedge funds out of 920 tracked by Insider Monkey held stakes in the company.

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