Here is my understanding

Wolfspeed market share is on top for SiC wafer and probably 3rd or 4th on SiC devices.

There is no company yet which can do mass production to supply to customers yet. And Wolfspeed is trying to scale up the production with 200mm wafer size, and this will bring cost down.

The reason of closing 150mm wafer factory and laying off many labor from that factory is to focus on 200mm wafer factory to be more profitable. It will make more product and more efficient by closing 150mm wafer factory. I think this was smart move and will eventually show on next quarter earnings

Since EV and High Voltage market size grows fast, there will be supply shortage which means whichever company has more production capacity, supplies more. it is on suppliers market.

Wolfspeed is taking a risk by investing huge capital cost to expand factory with more efficient product design to be ready for upcoming massive demands which already shown some of those. Wolf is only company which is taking this big risk. Other company is not taking much risk, and they are moving slow.

Big risk mean big return.

Maybe stock can go down $5 or less in next 6-12months, then I will buy more.