"
Finance

Why Is Cree Stock Falling Today?

Cree stock is trading at a forward PE ratio of 63.2x—high compared to its earnings growth estimates of 15% in 2020. The semiconductor weakness will likely continue for a while. Trade war concerns continue to impact stocks. The slowdown in China’s economy will also hurt the company’s sales. China accounts for 26% of Cree’s total revenues.

Investors need to tread cautiously with Cree and keep an eye on the stock. The stock will be a good pick after the downturn ends. Before the company’s fourth-quarter results, analysts had an average target price of $65.88. The estimates will be lower due to the company’s weak outlook.

Although the stock has gained 23% year-to-date, it’s still trading 23% below its 52-week high of $69.21.

View more information: https://marketrealist.com/2019/08/why-is-cree-stock-falling-today/

See more articles in category: Finance
See also  Best Vertical Farming Stocks in 2021 for the Agricultural Shift

Leave a Reply

Back to top button