Cree (CREE) Continues To See Pressure
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After reaching 52-week highs just a few months ago, Cree Inc. (Nasdaq: CREE) has seen a precipitous decline. Shares of Cree are trading at $21 after tapping a high of nearly $35 in late September.
Takeover rumors were the primary driver of the stock when it was hitting highs. General Electric was seen a buyer for the company, but no deal was ever announced. Investors have now headed for the exits as the takeover thesis didn't pay off.
Takeover rumors were the primary driver of the stock when it was hitting highs. General Electric was seen a buyer for the company, but no deal was ever announced. Investors have now headed for the exits as the takeover thesis didn't pay off.
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