➀ Wolfspeed, formerly Cree, has seen its market cap plummet from $12 billion to $1.7 billion, facing significant financial losses and operational challenges. ➁ The company's pivot from LED to compound semiconductor applications has been met with fierce competition from Chinese manufacturers, who have driven down prices and eroded profits. ➂ The transition to 8-inch silicon carbide wafers, a strategic move by Wolfspeed, faces technological and cost hurdles, with the 6-inch vs. 8-inch debate still unresolved in the industry.