Reported 2 days ago
Wolfspeed, Inc. (NYSE:WOLF) experienced a significant decline of 9.56% on Thursday, closing at $2.46 per share, as investors reacted to concerns over its ability to exit bankruptcy within the promised timeframe. The company filed for Chapter 11 bankruptcy in June and had its reorganization plan approved in September, aiming to reduce its debt by approximately 70%. CEO Robert Feurle expressed optimism about the restructuring process, stating that it will strengthen Wolfspeed's capital structure and enhance its market position in silicon carbide.
Source: YAHOO