Wolfspeed Stock Soars 1,100% as Bankruptcy Exit Nears

Chipmaker Wolfspeed stock soars 1,100% in three days, shareholders to receive new common stock — here's why

Wolfspeed Inc's stock skyrocketed after a bankruptcy restructuring plan was approved, which is set to cut its debt by 70%. Existing shareholders will receive new shares in the restructured company.

Wolfspeed exits Chapter 11 bankruptcy, slashes debt and interest costs

Chipmaker Wolfspeed said on Monday it has exited Chapter 11 bankruptcy after cutting its total debt by nearly 70 per cent and lowering annual cash interest expense by roughly 60 per cent. The company said it has sufficient liquidity to continue supplying customers with silicon carbide-based chips.Wolfs

Wolfspeed shares surge 1,100% after bankruptcy update and debt cut plan

Wolfspeed stock made big news after a major company update. The share price jumped fast, and many investors are now watching it closely. The plan includes changes for debt and new stock for shareholders. People also want to know how to buy Wolfspeed shares or even bet against them in the market.

Wolfspeed rockets more than 1,000% as it switches incorporation from N.C. to Del.

Wolfspeed (WOLF) shares rocketed more than 1,000% during Monday market action to about $15 after closing on Friday at $1.20 as the company officially moved its incorporation from North Carolina to Delaware.

Wolfspeed (WOLF) Stock Soars 1,100% On Chapter 11 Bankruptcy Update - Wolfspeed (NYSE:WOLF)

Wolfspeed Inc (NYSE: WOLF) shares are surging Monday afternoon after the company announced a reorganization plan, with shareholders receiving substituted new common stock. The stock surged as much as 1,450% following news of its Chapter 11 restructuring and corporate changes.

Wolfspeed stock soars 1,100% as bankruptcy exit nears