5 George Soros Stocks that are on Sale Now

4. Wolfspeed, Inc. (NYSE:WOLF)

Year to Date Loss: 45%
Number of Hedge Fund Holders: 23

Wolfspeed, Inc. (NYSE:WOLF) is another company that the Soros Fund Management relies to gain exposure in the burgeoning semiconductor sector. The company designs and develops silicon carbide and gallium nitride technologies. The company makes power devices like silicon carbide, Schottky diodes, and MOSFETs.

Wolfspeed, Inc. (NYSE:WOLF)’s stock dropped by more than 25% in August as growth stocks came under pressure amid rising interest rates. Additionally, the stock was hurt by disappointing earnings results. The company is no longer profitable and has had to raise billions of dollars to fund its ambitious build-out of silicon carbide factories.

A wave of negative news and deteriorating fundamentals has seen Wolfspeed, Inc. (NYSE:WOLF) plunge by 45% year to date. Amid the implosion, the stock is rated as a Moderate Buy with a $55.69 price target, implying a 46% upside potential.