Wolfspeed (WOLF) Stock Is Exploding Higher Monday: What's Going On?
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Wolfspeed Inc (WOLF) shares surged over 106% on Monday following the appointment of Gregor van Issum as the new CFO, effective September 1. This leadership change comes after the company filed for pre-packaged Chapter 11 to restructure and reduce debt by $4.6 billion, cutting annual cash interest payments by 60%. The stock has risen approximately 380% over the past week, reflecting positive investor sentiment towards the restructuring and new financial leadership. Wolfspeed aims to emerge from Chapter 11 by the end of Q3 while maintaining normal operations.
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Source: Benzinga The copyright of this article belongs to the original author/organization.
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