BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Wolfspeed Stock Surges Amid Debt Reduction and Geopolitical Factors
Wolfspeed Stock Surges Amid Debt Reduction and Geopolitical Factors
14
2
BTCCSquare news:
Wolfspeed (WOLF) shares soared 16.7% Thursday, defying broader market declines as the S&P 500 and Nasdaq dipped 0.3% and 0.1% respectively. The silicon carbide specialist's rally followed confirmation of a 70% debt reduction post-bankruptcy restructuring—a MOVE largely priced in by investors, suggesting meme stock dynamics may be amplifying gains.
Geopolitical tensions added fuel to the rally. China's restrictions on rare-earth mineral exports reignited concerns about supply chain security, potentially benefiting U.S.-based Wolfspeed by reducing competition from Chinese SiC producers. The stock's performance reflects growing investor bets on domestic tech manufacturers amid escalating trade tensions.
By:
