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Wolfspeed Stock Surges 86.4% on Bankruptcy Court Approval
Wolfspeed Stock Surges 86.4% on Bankruptcy Court Approval
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BTCCSquare news:
Wolfspeed shares soared 86.4% this week after the chipmaker secured court approval for its Chapter 11 reorganization plan. The ruling clears the path for the company to reduce its debt burden by 70%, exceeding initial targets.
The restructuring agreement, filed in June, aims to eliminate $4.6 billion in debt and cut interest payments by 60%. While the financial overhaul provides relief, Wolfspeed continues to face operational challenges in the volatile electric vehicle chip market.
Investors appear optimistic about the turnaround potential, though execution risks remain substantial. The stock's dramatic rebound reflects speculative confidence in the restructured entity's prospects.
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