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Cree | Wolfspeed To Transfer to the New York Stock Exchange and Trade Under New Ticker Symbol "WOLF"; To Host Investor Day in NYC on Wednesday, Nov. 17
Thu, September 16, 2021, 7:00 AM·3 min read
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CREE
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DURHAM, N.C., September 16, 2021--(BUSINESS WIRE)--Cree, Inc. (Nasdaq: CREE), the global leader in Silicon Carbide technology through its Wolfspeed business, today announced that it will transfer the listing of its common stock to the New York Stock Exchange ("NYSE") from The Nasdaq Global Select Market. Cree expects to commence trading as a NYSE-listed company at market open on October 4, 2021 under the new ticker symbol ‘WOLF’. The Company will continue to trade its common stock on the Nasdaq until the close of the market on October 1, 2021. As previously announced, the Company will also change its corporate name from Cree, Inc. to Wolfspeed, Inc. effective October 4, 2021.
"We are pleased to join the NYSE, one of the world’s most prestigious trading platforms, as we continue on our transformational journey as a pure play global semiconductor powerhouse leading the industry transition from silicon to Silicon Carbide," said Gregg Lowe, Chief Executive Officer at Cree | Wolfspeed. "Importantly, our company name change to Wolfspeed capitalizes on our 30-year heritage of working with Silicon Carbide and underscores our ambitious plans to compete and win in the rapidly expanding marketplace, which we believe will continue to provide long-term value for our customers and shareholders."
"We are excited to welcome Cree | Wolfspeed as it transfers its listing to the NYSE," said John Tuttle, Vice Chairman and Chief Commercial Officer, NYSE Group. "We look forward to the company joining the NYSE’s community of icons and disruptors, and to supporting their efforts to lead the worldwide transition from silicon to Silicon Carbide."
Cree will host an Investor Day the morning of Wednesday, November 17, 2021 at the New York Stock Exchange in New York City. Cree | Wolfspeed CEO Gregg Lowe, CFO Neill Reynolds, and other members of the senior management team will discuss the Company’s progress on its transformation strategy and share more detail about its long-term outlook.
In-person attendance is limited to the investment community and registration is required. Institutional investors and financial analysts interested in attending should contact Cree’s investor relations team via the following email: investorrelations@cree.com. The event will be webcast live on the Investor Relations page of the Company website. Webcast details will be available on Cree’s website at investor.cree.com/events.cfm. A replay of the webcast and related presentation materials will be available on the website following the conclusion of the event.
A new CREE Stock Offering in the near future...........
https://seekingalpha.com/news/3661582-cree-readies-stock-offering-shares-down-6?utm_campaign=twitter_automated&utm_content=news&utm_medium=social&utm_source=twitter_automated
Cree (NASDAQ:CREE) drops 6% premarket after filing a prospectus for unspecified common stock offering.
The filing does not necessarily indicate that a sale has begun, or will occur in the future.
Also, the company inks distribution agreement with some of the Fund Managers for the sale of up to $500M of shares of common stock.
Manager will earn a 2% commission for its efforts.
Nice move upward today. I'll put another 5% of the shares up for sale and see who's willing to buy them.
OAG Tom
I let another 5% of my CREE shares go yesterday at $98.61/share.
This is risk containment and opportunistic profit taking, not a loss of faith. Long term the new direction that CREE has taken seems to be a wise choice.
OAG Tom
CREE signs deal to sell Lighting unit................
https://investor.cree.com/news-releases/news-release-details/cree-inc-sell-led-business-smart-global-holdings-inc-300-million
OAG
I let 10% of the CREE position go today at $70.19. That helps the cash reserve for this holding and realizes some gains.
OAG Tom
I last added shares to my CREE position at $30.56 back in mid-March. The price/share is now within 5% of where I'll trim back on the position. Hard to believe it's nearly doubled in price/share since the March lows.
Hi FUTR, RE: Cree purchase....................
It was nice to see a bit of rebound. Maybe some sense is coming back to the markets, but still too soon to tell. This discount recently gives the potential for some upside movement as markets regain some sponsorship.
OAG Tom
Jealous...you should be pleased with that purchase over the long term-
futr
My next target for adding shares is $35. We may not get there this trip.
OAG
Longer term play...future applications will be substant-
futr
This has been a rather dramatic 30+% drop in CREE in the last few days. Now
analysts are jumping in and adding torture to the mix. Will CREE be able
to finish the transition from lighting to SiC wafers in a timely fashion to
halt the cliff diving?
I purchased shares in 2018 as low as $34.50 and then managed to sell some
at $46.80 and $63.50 during this year's rally. Last week's dive to around
$50 triggered an inventory rebuilding buy. This Pre-Market price dropping
to around $45 is tempting but I usually don't do sequential buys without
some delay in between. With this dramatic of a price drop it won't be long
until the Shorts show up to feast, so I think I'll wait a while before
spending more of the cash I have reserved for CREE.
Tom
Some nice press for CREE with this announcement:
https://finance.yahoo.com/news/cree-selected-silicon-carbide-partner-130000785.html
It's going to take some time for the transition to SiC to show up on the bottom line, but I can wait.
The BEARS got a real sickening in CREE trap.
What a battleground this was during post earnings release, after missing on revenue and what some perceived to be weak guidance the stock tumbled in afterhours trading, 24 hours later the stock was up 20% from those lows on positive Upgrades and comments. Speculation is that next week will bring some very positive announcements, so watch this space.
The BEARS got a real sickening in CREE trap.
What a battleground this was during post earnings release, after missing on revenue and what some perceived to be weak guidance the stock tumbled in afterhours trading, 24 hours later the stock was up 20% from those lows on positive Upgrades and comments. Speculation is that next week will bring some very positive announcements, so watch this space.
The BEARS got a real sickening in CREE trap.
What a battleground this was during post earnings release, after missing on revenue and what some perceived to be weak guidance the stock tumbled in afterhours trading, 24 hours later the stock was up 20% from those lows on positive Upgrades and comments. Speculation is that next week will bring some very positive announcements, so watch this space.
News: $CREE IDEAL INDUSTRIES, INC. Acquires Cree Commercial Lighting and Intelligent Lighting Control Systems
SYCAMORE, Ill., March 15, 2019 (GLOBE NEWSWIRE) -- IDEAL INDUSTRIES, INC. today announced the acquisition of Cree Lighting, which includes the LED lighting fixtures, lamps and intelligent lighting control solutions business for commercial, industrial and consumer applications of Cree, Inc. ...
Read the whole news https://marketwirenews.com/news-releases/ideal-industries-inc-acquires-cree-commercial-lighting-and-intelligent-lighting-control-systems-7849964.html
News: $CREE Cree to Sell Lighting Business to IDEAL INDUSTRIES, INC.
Transaction Sharpens Cree’s Strategic Focus as Powerhouse Semiconductor Company Cree, Inc. (Nasdaq: CREE) announces the execution of a definitive agreement to sell its Lighting Products business unit (“Cree Lighting”), which includes the LED lighting fixtures, lam...
Find out more https://marketwirenews.com/news-releases/cree-to-sell-lighting-business-to-ideal-industries-inc--7849676.html
News: $CREE Cree, Inc. Announces 2019 Second Quarter Earnings Release Webcast
Cree, Inc. (NASDAQ: CREE): About Cree Cree is an innovator of Wolfspeed® power and radio frequency (RF) semiconductors, lighting class LEDs and lighting products. Cree’s Wolfspeed product families include silicon carbide materials, power-switching devices and RF devices...
Read the whole news https://marketwirenews.com/news-releases/cree-inc-announces-2019-second-quarter-earnings-release-webcast-7508000.html
These executive salaries are ridiculous.
43 year old CFO worth half a million a year base salary plus over 2 milly in stock?
He better perform.
Today's price action in CREE:
https://zolmax.com/investing/cree-cree-downgraded-by-northland-securities-to-underperform/1852693.html
New SA article on Cree https://seekingalpha.com/article/4131836-cree-inc-bringing-good-things-light
Cree continues to restructure management - firing the head of the lighting division.
PPS continues to perform extremely well; up about 13% this week.
Glad I did not go SHORT!!!!
CREE continues impressive recovery - up 63% in 3 months. New management making good changes, restructuring debt.
Please share the evidence of CREE being a "fraud".
$3.4 BILLION UNPROFITABLE FRAUD / $150 MILLION DEBT´/ REVENUE COLLAPSING = GREAT SHORT HERE ..Brutal Stock promo ongoing to attract newbies so the criminal Banksters and Management can unlaod their worthless trash to them WARNING .
Hi FB, Re: Cree's gain today.............
It's been hard work making money with CREE since late in 2014. Lots of incremental buys and not very many sells along the way. Today I sold 12% of the overall position at $31.80 for a LIFO turn of just over 30%.
While the Price/share is down over 12% since starting this investment, the account's value including its cash is now up around 10% through downside averaging and shorter term profit-taking.
BANJ new merger with Spectrum King working with $CREE
Spectrum King’s lofty trajectory is boosted by its strategic partnership with big-time LED chipmaker Cree, as well positive customer word of mouth, a clear yet technically sophisticated website, and successful products like the SK600 (“the world’s brightest and most efficient LED grow light”)."
https://mgretailer.com/led-grow-lights-spectrum-king/
$BANJ new merger with Spectrum King working with $CREE
https://mgretailer.com/led-grow-lights-spectrum-king/
Robert Alexander Ingram, a director of Cree, recently acquired 1,132 shares of the company. The buys took place at $22.07 per share, on April 26, 2017. Ingram now owns 61,816 shares of the company. Ingram operates out of Durham, NC. Some additional info was provided as follows:
Represents shares of Common Stock credited to the Reporting Person's 2017 deferral account under the Cree, Inc. Stock Compensation and Deferral Program, issuable following the Reporting Person's Separation of Service from Cree.
CREE has been a challenge as an investment for the 2+ years it's been a holding. Started with a reserve of 40% cash in the beginning, that cash was used to average down during the severe beating this company's stock has taken since. This latest sale provided a 31% LIFO gain but also brought the holding back to being break-even overall. Buying and selling along the way has managed to reduce the average cost/share by 20% from the starting point.
JMP Securities started CREE at Outperform today... $30 fair value
Fair Value Analysis
$24.50 perfect hold from last week's low.
Where do you see this heading?
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WOLF | Wolfspeed Inc | ||
Technology | Semiconductors | USA | NYSE https://www.wolfspeed.com/
|
Shs Float | 123.88M |
Short Float / Ratio | 13.01% / 5.49 |
Book/sh | 13.00 |
Cash/sh | 23.59 |
52W Range | 35.92 - 119.65 |
Target Price | 111.94 |
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