On November 7, 2024, WOLF conducted an earnings call corresponding to its third quarter results revealing a slow-down in growth of its 200mm facility at Mohawk Valley, signaling a significant demand headwind as the facility purportedly continues to ramp production. WOLF simultaneously announced the implementation of a 20% workforce reduction focused on administrative and other non-factory employees.
Following this news, WOLF’s stock price fell by $5.38 per share to close at $8.33 per share.
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