Shares of Wolfspeed (WOLF) fell nearly 6% by Tuesday noon, making it one of the worst-performing semiconductor stocks after a Bloomberg report suggested the company could lose access to promised Chips Act grants.

Wolfspeed shares lost nearly half their value Friday as comments by the semiconductor firm's outgoing interim Executive Chairman brought concerns about whether it will secure federal funding for its expansion efforts.

Wolfspeed's shares lost half their value on Friday, hitting their lowest level since 1998, as funding through a Joe Biden-era legislation that promised subsidies for chip making in the United States remains uncertain.