Wolfspeed Stock (WOLF) Surges Over 1,700% Amid Reverse Split and Reorganization Plan

Wolfspeed (WOLF) shares skyrocketed more than 1,700% on Monday following the company's decision to reincorporate from North Carolina to Delaware and execute a reverse stock split. The MOVE is part of a broader strategy to emerge from bankruptcy, with the semiconductor firm receiving court approval for a creditor-backed reorganization plan that slashes debt by 70% and reduces annual interest payments by 60%.

The rally extended into Tuesday's pre-market session, with shares gaining another 13%. Wolfspeed specializes in silicon carbide (SiC) and gallium nitride (GaN) technologies, critical components for electric vehicles, renewable energy systems, and advanced electronics. The surge reflects renewed investor confidence in the company's ability to stabilize its financial position.