Wolfspeed Stock’s Wild Comeback: From Bankruptcy to Boom – Will the Rally Last?
Wolfspeed shares soared over 1000% after exiting bankruptcy in late September, trading near $29–30 with a market cap of $0.7–0.8 billion as of Oct. 27. The chipmaker cut 70% of its $6.5 billion debt and canceled old shares, leaving legacy holders with 3–5% of new equity. Most analysts rate the stock a Hold, with a $9 price target, citing ongoing losses and high volatility. Investors await fiscal Q1 results on Oct. 29.