Wolfspeed Stock Sees Significant Gains Amidst Bankruptcy Proceedings
Wolfspeed (NYSE: WOLF) experienced an 8.4% increase in its stock price on October 3, 2023, amid positive momentum for semiconductor stocks. The surge followed speculation and favorable industry news related to Nvidia, despite Wolfspeed’s ongoing restructuring under Chapter 11 bankruptcy.
Since announcing its bankruptcy at the end of June, Wolfspeed’s share price has risen 273%, peaking at a 22.9% increase earlier in the session. However, investors face potential risks, as only 3-5% of value may be retained through its restructuring process, raising concerns about future delisting from the New York Stock Exchange.
