Wolfspeed WOLF Stock’s Wild Comeback: From Bankruptcy to Boom – Price, News & Expert Forecasts

Wolfspeed, Inc. (NYSE: WOLF) has seen a stunning reversal in fortune. As of October 9, 2025, the stock trades around $30.36 per share, giving the company a market capitalization of roughly $0.7–0.8 billion ^{[1] [2]}. Just weeks ago, Wolfspeed emerged from Chapter 11 bankruptcy after cutting its debt by ~70% and interest costs by ~60% ^[3]. This financial restructuring wiped out most of the old equity – existing shareholders were left with only ~3–5% of the reorganized company ^[4] – but set the stage for a dramatic stock rally. In fact, WOLF exploded over 1,000% intraday on September 29, 2025 and continued to jump ~33% on September 30 to a new 52-week high near $32 ^{[5] [6]}. New CEO Robert Feurle declared the completion of bankruptcy as “the beginning of a new era”, saying Wolfspeed is “well positioned to capture rising demand” in fast-growing markets like EVs and AI ^[7]. While bulls point to Wolfspeed’s strengthened balance sheet and leadership in silicon carbide semiconductors, analysts remain cautious – the stock is rated a Hold on average, with consensus 12-month price targets around only $8–10 (implying significant downside from current levels) ^{[8] [9]}. Below, we dive into the latest stock price, recent news and developments, expert commentary, forecasts for WOLF’s future, a deep fundamental vs technical analysis, and how Wolfspeed stacks up against semiconductor industry peers.

Current Stock Price & Market Cap (October 9, 2025)

As of Oct. 9, 2025, Wolfspeed’s stock price is hovering around $30–31 per share ^[10]. This represents an astonishing rise from the penny-stock levels it traded at just weeks earlier. The company’s market capitalization now sits in the range of $630–780 million (≈0.7–0.8 billion USD) ^{[11] [12]}, reflecting the issuance of a much smaller number of new shares during its bankruptcy restructuring. According to Reuters, Wolfspeed canceled all its legacy common stock and issued only 1.3 million new shares to existing shareholders (at roughly a 1-for-120 exchange ratio) as part of the reorganization ^[13]. Creditors and new investors received the vast majority of equity, leaving the total shares outstanding at about 25.8 million post-bankruptcy ^[14].

At ~$30 per share, Wolfspeed is now firmly a small-cap stock. For context, its 52-week trading range spans from a low of around $0.39 (during the depths of its Chapter 11 crisis) to a recent peak of $34.25 following its exit from bankruptcy ^[15]. This extreme range underscores just how volatile WOLF has been in 2025. The stock’s dramatic surge in late September/early October has put it back near levels not seen since early 2023, albeit still a fraction of its all-time high (WOLF traded near $130+ in late 2021 before its downturn ^[16]).

Wolfspeed’s market cap of ~$0.7–0.8B also signals how far the company has fallen in value from its pre-crisis days. Just two years ago, Wolfspeed was valued over $8–13 billion ^[17]. The steep decline reflects heavy losses and investor skepticism prior to restructuring, while the recent rebound shows renewed optimism now that the balance sheet is repaired. Overall, at ~$30, WOLF remains a speculative play – its valuation is low relative to past highs, but rich relative to fundamentals (the stock trades at a negative price-to-earnings since the company has no profits ^[18]). We will examine those fundamentals next.

Recent News & Developments (Early October 2025)

Wolfspeed has generated significant news in recent weeks, largely centered on its bankruptcy exit and corporate reset. Below we summarize all the key developments from late September through October 9, 2025:

Chapter 11 Bankruptcy Exit & Debt Restructuring:

The biggest news is that Wolfspeed successfully emerged from Chapter 11 bankruptcy protection at the end of September 2025. The company had filed for Chapter 11 on June 30, 2025 amid a cash crunch, citing “deepening economic uncertainty” from changing U.S. trade policies and a slowdown in electric vehicle (EV) demand ^[19]. After a speedy, court-supervised process, a U.S. bankruptcy court approved Wolfspeed’s reorganization plan on Sept. 8, 2025 ^[20]. CEO Robert Feurle hailed the court’s confirmation as an “important milestone” that would allow Wolfspeed to emerge stronger and “reinforce our leadership in silicon carbide” going forward ^[21].

On Sept. 29, 2025, Wolfspeed formally exited Chapter 11 and implemented its creditor-backed restructuring plan ^[22]. The plan delivered a major balance sheet overhaul – roughly $6.5 billion of total debt was slashed to about $2.0 billion (a ~70% reduction), dramatically lowering interest costs ^[23]. In a press release, Wolfspeed said it now has “sufficient liquidity to continue supplying customers” with its chips ^{[24] [25]}, indicating that new financing and cash on hand will support its operations post-bankruptcy. The company also added five new directors to its board as of Sept. 29, bringing in seasoned industry executives (such as former Micron SVP Mike Bokan and Corning president Eric Musser) to help guide the turnaround ^[26].

A critical piece of the exit plan was an equity restructuring. All existing Wolfspeed shares were canceled on Sept. 29 and exchanged for a very small number of new shares in the reorganized company ^[27]. Specifically, only ~1.3 million new common shares were issued to pre-bankruptcy shareholders, at an exchange ratio of about 0.008352 new shares per old share (roughly 1 new share for every 120 old shares) ^[28]. This means legacy shareholders were nearly wiped out, ending up with just 3–5% of the equity (the remainder going to creditors and backstop investors) ^[29]. An additional ~0.87 million contingent shares may be issued if certain regulatory milestones are met, but even in that case, old owners would still own only ~5% of Wolfspeed’s new equity ^[30]. In essence, the bankruptcy diluted existing investors massively, but also gave Wolfspeed a fresh start with far less debt.

Alongside this, Wolfspeed made some legal and regulatory changes: it changed its state of incorporation to Delaware (from North Carolina) and implemented a reverse stock split to tidy up the share structure ^[31]. The company’s ticker symbol WOLF remains the same on the NYSE, but the old shares were set to be delisted on October 10, 2025 (after a brief transition period where the “old” WOLF stock continued trading through early October) ^{[32] [33]}. New Wolfspeed common stock was expected to begin trading thereafter. During the swap on Sept. 29, trading in WOLF was temporarily halted due to the corporate actions and extreme volatility ^[34]. Notably, Wolfspeed’s legal emergence from bankruptcy marked the completion of an “expedited” restructuring process – just three months from filing to exit – which the CEO emphasized as the start of a new chapter for the company ^[35].

Stock’s Explosive Rally Post-Bankruptcy:

Wolfspeed’s stock made headlines with an unprecedented price surge immediately following these restructuring moves. On Sept. 29, as news of the debt cuts and equity swap hit the market, WOLF shares skyrocketed – climbing from around $1.21 to intraday highs as great as ~$19.80 in a single session ^[36]. This >1,100% intraday jump triggered multiple volatility trading halts on the NYSE as stunned traders piled in ^[37]. By that afternoon, the stock settled around $14.97 (up ~+1,137%), and by the close of day Wolfspeed was roughly +1,686% versus the prior day’s close ^{[38] [39]}. In practical terms, a sub-$2 bankrupt penny stock had suddenly transformed into a $20+ stock in the space of hours, purely on speculation and the extreme share count reduction from the restructuring. Market observers noted this as perhaps the most shocking “bankruptcy rally” of 2025.

The following day, Sept. 30, 2025, WOLF continued to climb. The stock jumped about 33% during that session, ultimately reaching a new 52-week high around $32–34 per share ^[40]. According to Reuters, Wolfspeed “surged 33% on Tuesday, after the chipmaker successfully emerged from Chapter 11… with a substantially reduced debt load” ^[41]. The rally was fueled by renewed investor confidence that Wolfspeed could now “become a leading provider of silicon carbide semiconductors” for EV makers and other markets, now that its debt woes were addressed ^[42]. CEO Robert Feurle took to the airwaves to underscore that “Wolfspeed has emerged… marking the beginning of a new era” and that “we are well positioned to capture rising demand in end-markets, such as AI, EVs, industrial and energy” that increasingly recognize the potential of silicon carbide chips ^[43]. His optimism further fed the bullish sentiment.

It’s worth noting that this frenzied rally largely involved the “old” WOLF shares in their final days of trading. Because the new shares were not yet listed in public accounts, the effective rise in equity value is a bit of an illusion – much of the percentage gain simply reflects the fact that share count shrank dramatically. In fact, financial commentators warned that this surge “didn’t make [legacy investors] any real money”, since an investor holding 120 old shares at ~$1.20 ($144) ends up with 1 new share worth ~$20–30 – about the same or even less total value than before. Nonetheless, traders who speculated on WOLF during this window could ride huge percentage swings, making it one of the wildest short-term trades of the year ^[44].

After Sept. 30, the news flow in early October was relatively quieter, but the stock remained active. In the first week of October, WOLF shares fluctuated roughly in the mid-$20s to low-$30s as the market digested the new share structure. By Oct. 8, the stock spiked again nearly 17%, hitting an intraday high of $31.47 and closing around $30 ^{[45] [46]}. Traders on social platforms buzzed that “Wolfspeed Inc. New” (as it was labeled on some brokerages) was “breaking out” amid “positive market sentiment” following the successful restructuring ^[47]. Essentially, momentum and short-term trading have dominated WOLF’s stock action in the days after bankruptcy – a point to keep in mind when evaluating its future prospects.

Financial Results & Earnings Updates:

Amid the restructuring, Wolfspeed also reported its latest financial results, which illustrate the challenges that led to bankruptcy. In late August, Wolfspeed released figures for its Fiscal Q4 2025 (quarter ending June 30, 2025). Revenue for that quarter was about $197 million, slightly down from $201M in the same quarter a year prior ^[48]. The company posted a GAAP net loss of $4.30 per share in Q4, reflecting large operating losses ^[49]. For the full Fiscal Year 2025, Wolfspeed’s revenue came in around $758 million, a ~6% decline from $807M in FY2024 ^[50]. The full-year GAAP net loss was a staggering $11.39 per share ^[51], widening from a loss of $4.56/sh the previous year as the company’s costs spiraled and sales stalled. In total, Wolfspeed lost roughly $1.6 billion in FY2025 ^[52] – a huge number relative to its revenue, explaining why the firm ran into liquidity issues.

These results highlight Wolfspeed’s fundamental headwinds: softening demand and high expenses. The company experienced flat or declining sales through 2025 (quarterly revenues hovered in the $180–200M range) while its margins turned deeply negative ^{[53] [54]}. Contributing factors included weak EV market conditions (some customers delayed orders amid an EV slowdown) and policy uncertainty (trade policy changes affecting exports) ^{[55] [56]}. Wolfspeed’s costs were also elevated as it ramped a new fabrication facility (more on that below). By May 2025, management had openly warned of “going concern” risks as cash burn mounted ^[57]. These struggles set the stage for the Chapter 11 filing.

Looking ahead, Wolfspeed’s guidance and outlook remain cautious. In the spring (before bankruptcy), the company told investors it expects only about $850 million in revenue for FY2026, which was well below consensus estimates of ~$959M ^[58]. This conservative forecast reflects continued softness in EV and renewable energy demand that may persist into 2026 ^[59]. Wolfspeed is also not projecting a quick return to profitability – it will likely continue running at a net loss in the near term (whereas many peer chipmakers are profitable). As Reuters noted, “owing to analysts’ expectations of continued losses, [Wolfspeed] carries a negative multiple” (no P/E) at present ^[60]. We’ll explore these forecasts and what experts say in later sections. The next earnings update (for Q1 FY2026) is anticipated around November 5, 2025 ^[61], which will be the first report post-reorg and will be closely watched for signs of improvement or further cash burn.

Strategic Developments – Leadership & Products:

Despite its financial turmoil, Wolfspeed has been executing on strategic initiatives in technology and leadership that are crucial to its long-term plan. Robert Feurle, formerly a semiconductor executive at Infineon, took over as CEO in May 2025, replacing long-time CEO Gregg Lowe ^[62]. Feurle wasted no time in refocusing the company: he implemented cost cuts, closed older manufacturing lines, and doubled down on Wolfspeed’s core strength – silicon carbide (SiC) power devices and materials ^{[63] [64]}. One of the first moves was to appoint a new CFO, Gregor van Issum, effective Sept. 1, 2025 ^[65]. Van Issum is an industry veteran with 20+ years in semiconductors, and his hiring was aimed at bringing financial discipline during the restructuring. Additionally, in August, Wolfspeed poached Bret Zahn – an automotive EV executive from onsemi – to head its automotive products division ^[66]. These leadership changes signal a “fresh start” approach: new faces to execute a turnaround, with Feurle explicitly aiming to “reinforce [Wolfspeed’s] leadership in silicon carbide” tech ^[67].

On the product and technology front, Wolfspeed achieved a major milestone in September 2025 by launching its first commercial 200 mm silicon carbide wafers ^[68]. Silicon carbide wafers are the substrates used to build advanced power chips, and moving from 150 mm to 200 mm wafer diameter allows more chips per wafer and lower cost per chip. Wolfspeed’s new Mohawk Valley Fab in New York – a brand-new, state-of-the-art factory – produced these 200 mm SiC wafers, which Wolfspeed touts as an industry first in production scale ^[69]. The company is marketing these larger wafers to EV and industrial customers who need high-performance power electronics. Wolfspeed even noted that the Mohawk Valley fab’s output made up $94.1M of Q4 2025 revenue ^[70], demonstrating that this facility is now a significant revenue driver. By contrast, Wolfspeed has shut down some older 150 mm wafer fabs or repurposed them, to streamline operations and cut costs ^[71]. Concentrating on the Mohawk Valley facility (which Wolfspeed calls “world-class” for automotive-grade SiC) is central to its strategy of scaling up production efficiently ^[72].

In terms of partnerships and market positioning, no brand-new partnerships were announced in early October, but Wolfspeed has existing strategic deals with major automotive OEMs. For instance, it previously partnered with Jaguar Land Rover to supply SiC devices for next-gen EVs, and it has a supply agreement with General Motors for EV power components ^[73]. Wolfspeed’s chips are also used by Mercedes-Benz and other automakers via these partnerships ^[74]. These relationships position Wolfspeed as a key player in the EV supply chain – a fact that likely motivated government support. (In 2024, Wolfspeed was preliminarily awarded $750 million in U.S. CHIPS Act grants to help fund a new SiC materials plant in North Carolina ^[75], showing the government’s interest in its tech.) While that funding is not yet final, it underscores Wolfspeed’s importance in semiconductor policy circles. In summary, strategic developments during this period include aggressive refocusing on SiC technology, leadership overhaul, and ensuring the new 200mm fab ramps successfully. All these moves are aimed at positioning Wolfspeed to capitalize on the coming EV and clean energy boom, which heavily relies on silicon carbide chips.

Expert Commentary & Analyst Insights

Market analysts and industry experts are divided in their views on Wolfspeed’s prospects, especially after the recent roller-coaster ride. Here we compile some notable commentary and quotes:

• CEO’s Optimism: Wolfspeed’s chief executive, Robert Feurle, is unsurprisingly bullish about the company’s future post-restructuring. Upon exiting bankruptcy, Feurle stated that “Wolfspeed has emerged from its expedited restructuring process, marking the beginning of a new era.” He emphasized that “we are well positioned to capture rising demand in end-markets, such as AI, EVs, industrial and energy, that are rapidly growing and recognizing silicon carbide’s potential.” ^[76] This quote encapsulates management’s thesis: that by cleaning up the balance sheet, Wolfspeed can now fully exploit its technological lead in SiC at a time when demand for EVs, renewable energy, and advanced electronics is set to accelerate. Feurle has also highlighted Wolfspeed’s “market-leading quality” in SiC and suggested the restructuring will help reinforce U.S. semiconductor supply chains ^[77]. In short, leadership is sending the message that Wolfspeed is now a leaner, stronger company ready to grow.
• Analysts Urge Caution: Despite management’s enthusiasm, many analysts remain cautious to skeptical. The drastic nature of the bankruptcy plan – which virtually wiped out existing shareholders – has left a bad taste and a recognition of high risk. As one analysis put it, “trading [WOLF] stock during bankruptcy is highly speculative” and there is “huge risk that its stock price will plummet” once the dust settles and the new shares trade normally ^[78]. In fact, Nasdaq.com warned in September that if WOLF was delisted and moved to over-the-counter markets, it could see a sharp drop ^[79]. While Wolfspeed ultimately maintained an NYSE listing for the new stock, the general sentiment is that the post-rally price could be unsustainably high. Wall Street’s official ratings on WOLF reflect tempered expectations. According to MarketBeat and StockAnalysis, the consensus rating is “Hold” and price targets average around $8–10 per share ^{[80] [81]}. For example, StockAnalysis reports an average 12-month target of $8.39, which implies -72% downside from the ~$30 level ^[82]. This huge disconnect suggests analysts think the current price is driven by speculative frenzy rather than fundamentals. Indeed, some have openly questioned the valuation – pointing out that Wolfspeed, with ongoing losses, is hard to justify at a $0.8B market cap when profitable peers trade at moderate multiples (more on that in Competitors section). Simply Wall St noted that after the recent spike, WOLF might be severely overvalued unless it executes perfectly, calculating as much as 94% downside risk based on future cash flow projections ^[83].
• Dilution and “Kicking the Can”: Investment commentators have also remarked on how the bankruptcy essentially reset the investment case. A Motley Fool contributor (via Yahoo Finance) observed that while the Chapter 11 dramatically cut debt and interest payments, it might be “simply kicking the can down the road” if Wolfspeed cannot fix its core business issues ^[84]. The debt reduction gives breathing room, but the company still needs to achieve profitability in coming years to justify itself. Long-term Wolfspeed shareholders saw their stakes almost wiped out, a lesson that even cutting debt by 70% doesn’t necessarily create value for equity if the business continues to struggle. As one finance writer put it, “existing shareholders were nearly wiped out” by the restructuring ^[85], and any new investors need to be aware that WOLF remains a turnaround gamble.
• Bullish Voices (Value Play?): On the other side, a few analysts and investors see opportunity in Wolfspeed’s rebirth. A recent Seeking Alpha piece labeled Wolfspeed a “Strengthened Company Emerges… at Bargain Valuation – Strong Buy.” ^[86] The bullish argument is that with far less debt and $750M of new financing from Apollo and others injected during bankruptcy ^[87], Wolfspeed’s enterprise value is now much lower, potentially making the stock undervalued relative to its long-term potential. Bulls point to Wolfspeed’s unique position as a pure-play silicon carbide leader in the USA, the substantial growth forecasts for SiC chips, and the company’s heavy investments (factories, R&D) which, if they pay off, could turn Wolfspeed into a much larger company down the road. They argue that the market may be overly discounting Wolfspeed’s prospects due to its recent troubles. For example, one could note that if Wolfspeed hits even $1 billion in revenue in a couple of years (not far above its guidance) and improves margins, the current market cap (~$0.8B) might be a bargain.

However, even optimistic commentators acknowledge the risks. Diane King Hall on Schwab Network described Wolfspeed’s 2025 stock swing as a “2,000% rally” and “the wildest trade of 2025”, but cautioned that it was fueled by technical factors and that volatility will remain extremely high ^[88]. In other words, trader enthusiasm and short-covering have been key drivers of WOLF’s price, and those can reverse suddenly. Any bullish thesis relies on Wolfspeed executing flawlessly in a competitive market, something it struggled with in the past year.

In summary, expert opinion on WOLF ranges from speculative enthusiasm to deep skepticism. The consensus tilt is cautious, given the company’s unproven turnaround and the dilution that has already occurred. Wolfspeed’s management is confident they have the pieces in place to succeed (a cleaner balance sheet, new fab, rising demand), while many analysts are effectively saying “show me the results” before they’ll recommend the stock. This dynamic sets up the next phase – how will Wolfspeed perform going forward, and what do forecasts say?

Short-Term and Long-Term Forecasts (Opportunities & Risks)

With Wolfspeed out of bankruptcy, what’s next for the stock? The outlook features both promising opportunities and significant risks, in the short run (next 6–12 months) and the long run (2–5 years and beyond). Here’s a breakdown:

• Short-Term (Next 6–12 Months): In the immediate term, volatility is likely to remain extremely high. The stock’s recent surge has been driven by technical factors and speculative trading. As Wolfspeed’s new shares start trading fully (after the old shares’ delisting around Oct 10), there is a risk of a pullback or crash once the initial euphoria fades. Some analysts warned that if WOLF moved to OTC or simply normalized, its price could “plummet” ^[89] – though it appears the company avoided an OTC listing by quickly listing the new equity on NYSE. Still, investors should be prepared for sharp swings. Profit-taking is a real possibility given the stock rose ~1,700% in a week; those who bought in the low single-digits may cash out, putting downward pressure on the price. Indeed, by early October, the stock had already seesawed between $20 and $30 on heavy volume as traders locked in gains. Another short-term factor is technical trading levels. After the parabolic move, chart analysts are watching whether WOLF can hold support around the $20–$22 range – roughly where it settled right after the initial spike ^[90]. A dip below that could signal fading momentum. On the upside, the recent high around $34 is the first resistance level; if the stock breaks above that, it might trigger another speculative run. Momentum indicators like the RSI (Relative Strength Index) spiked into overbought territory (>70) during the rally, suggesting the stock was overbought in late September. As of Oct 9, the RSI may have cooled slightly with the stock oscillating in the upper-$20s, but it likely remains elevated. The MACD (Moving Average Convergence Divergence) recently made a bullish crossover during the uptrend, reflecting strong positive momentum – but this could reverse just as quickly if momentum fades. Fundamentally in the short term, a key event will be Wolfspeed’s next earnings release (expected November 2025). Investors will be scrutinizing that report for signs of improvement: Has revenue started to reaccelerate? Are losses narrowing? Is the company maintaining adequate liquidity? Management’s commentary will also matter – any update to guidance (e.g. order trends from EV customers) could move the stock. There’s also the question of stock exchange dynamics: with a much lower float (~25.8M shares), WOLF can move sharply on relatively little news. Short interest and option activity (not publicly detailed yet post-reorg) could also influence short-term moves if traders try to short the stock at these high levels, creating potential for short squeezes or, conversely, rapid declines if there’s low buying support. In summary, short-term forecasts for WOLF range widely. Optimists think the stock could continue its strong momentum if the market remains excited about “bankruptcy turnaround” plays or if any positive news (like a lucrative new customer deal or better-than-expected earnings) hits the wires. Some traders are eyeing a possible further rally into the mid-$30s or $40 if enthusiasm continues. Pessimists, including most equity analysts, see the stock drifting significantly lower – possibly back to single-digit dollars – once reality sets in that Wolfspeed is still losing money and now has a very small equity base. The consensus year-ahead price target near ~$9 ^[91] reflects expectations that the stock could erase 70–80% of its recent gains as fundamentals, not hype, reassert themselves. Thus, the near-term opportunity is largely for nimble traders, whereas long-term investors may want to wait for a more stable entry point.
• Long-Term (1–5+ Years): Over the longer horizon, Wolfspeed’s future will hinge on its execution and the growth of the silicon carbide market. The company does have major opportunities: Silicon carbide semiconductors are expected to see explosive demand growth. Industry forecasts project the global SiC market to grow ~15–20% annually through 2030 as EV production, renewable energy systems, and industrial electrification all ramp up ^[92]. Electric vehicle shipments, for example, are forecast to rise ~30% per year from 2025 to 2030 ^[93]. As a pure-play SiC leader with advanced technology, Wolfspeed is in prime position to supply this wave. It is one of the few companies producing SiC wafers at scale (200mm) and has deep expertise in SiC materials – a critical advantage in a sector with high barriers to entry. If Wolfspeed can capture a healthy slice of the booming EV inverter and charging market (where SiC is favored for its efficiency), its revenues could climb substantially over the next 5 years. Wolfspeed’s cleaned-up balance sheet post-Chapter 11 also gives it a chance to invest for growth. The company has ambitious expansion plans: for instance, it aims to expand its Mohawk Valley device fab and had plans for a huge new materials plant in North Carolina (partially funded by that potential $750M CHIPS Act grant) ^[94]. Executives have hinted at pursuing emerging markets like AI data centers and aerospace with SiC and gallium nitride (GaN) technologies ^[95]. These are all promising avenues if the company can marshal the capital. Long-term bulls argue that with annual revenue of ~$1 billion and growing, Wolfspeed could eventually turn profitable and justify a multi-billion dollar valuation again. Some price forecasts from bullish analysts go as far as suggesting WOLF could be a multi-bagger in the long run if things go right – reclaiming $50+ or even $100 in a scenario where EV demand surges and Wolfspeed executes perfectly. That said, the risks in the long term are considerable. First, Wolfspeed must manage its cash and costs carefully. Even after debt reduction, it still carries about $2 billion in debt and will need to invest heavily in R&D and manufacturing. There is a possibility it may need to raise additional capital in a couple of years to fund growth (the restructuring plan requires it to seek up to $300M in new non-debt capital over the next 12 months ^[96]). Such financings could dilute shareholders further if done via equity. Second, competition is intensifying. Silicon carbide is a hot field; competitors include onsemi, which is ramping its own SiC production, STMicroelectronics and Infineon in Europe, and a number of Chinese companies (like Sanan Optoelectronics and StarPower) backed by government initiatives to grow domestic SiC supply. These rivals are investing billions and could drive down pricing or capture market share, potentially squeezing Wolfspeed’s margins ^[97]. In fact, Wolfspeed had to deal with price pressure from Chinese SiC providers in 2024–2025, which hurt its margins ^[98]. Maintaining a technological edge (e.g. better quality wafers, more efficient devices) will be critical for Wolfspeed to command premium pricing and healthy gross margins in the future. Another risk is that end-market adoption might be slower or more erratic than hoped. If EV sales growth disappoints or policies (like the expiration of subsidies or new tariffs) create headwinds, demand for Wolfspeed’s chips could lag the optimistic projections. We saw a taste of that in 2024–2025 when EV demand softness and U.S.–China trade issues hit Wolfspeed’s orders ^[99]. Long term, Wolfspeed also needs to transition from being a perennial R&D company to a profitable manufacturing company. This means achieving economies of scale at its fabs, improving yields on those new 200mm wafers, and moving down the cost curve. It’s a challenging execution path – any missteps (production delays, quality issues, etc.) could hamper its financial recovery.

In summary, the long-term forecast for Wolfspeed is a classic high-risk, high-reward scenario. Opportunities: a potentially massive growth wave in silicon carbide demand, where Wolfspeed’s know-how could make it a big winner – translating to multi-billion revenue and a stock price multiples of today’s if all goes well. Risks: intense competition, continued losses, or a failure to capitalize on the SiC boom could leave Wolfspeed languishing – possibly forcing further restructurings or leaving the stock significantly lower. At present, the market seems to be pricing Wolfspeed closer to the optimistic side (given the $30 stock despite no profits), whereas Wall Street analysts’ targets lean towards the pessimistic side (pricing it like things might go wrong). The actual trajectory will depend on how well Wolfspeed can execute its turnaround and seize the market opportunity in the coming years.

Investors considering WOLF should keep both sets of outcomes in mind: Can Wolfspeed become the next “power semiconductor champion” of the EV era, or will it struggle under the weight of its past issues? The next few quarters to couple of years will be telling.

Fundamental Analysis: Earnings, Growth & Balance Sheet

Taking a closer look at Wolfspeed’s fundamentals, we see a company with significant strengths in technology and market positioning, but also current financial weakness that must be overcome. Below is an analysis of the key fundamental factors:

• Revenue Growth (or Decline): Wolfspeed’s revenue has stagnated or slightly declined in recent years. FY2025 revenue was about $757.6 million, down ~6% from $807M in FY2024 ^[100]. The company’s sales growth stalled due to the combination of softer demand and its own capacity constraints. For much of 2023–2024, Wolfspeed was essentially supply-constrained – it had more potential demand for SiC devices than it could fulfill with older fabs, but its customers (especially in EV) then scaled back orders in 2024 when EV sales slowed. The result was flat revenues around ~$180–200M per quarter in the past year ^[101]. Going forward, management expects only modest growth in the near term (FY2026 guidance ~$850M ^[102], which is barely 12% growth from FY25). However, beyond that, if EV and industrial orders accelerate, growth could pick up significantly. It’s not unrealistic to project Wolfspeed crossing $1 billion in annual sales in a couple years if its new capacity is utilized and new design wins are secured. The CAGR of the SiC market (~16%) ^[103] provides a tailwind – Wolfspeed’s challenge is executing to capture that growth.
• Earnings & Profitability: This is Wolfspeed’s Achilles’ heel. The company is deeply unprofitable at present. FY2025 saw a net loss of -$1.61 billion ^[104], much worse than the prior year’s ~$865M loss. On a per-share basis (pre-reorg share count), FY25 GAAP EPS was about -$11.39 ^[105]. These losses stem from several factors: high operating expenses (including R&D for new tech and costs to ramp the Mohawk Valley fab), poor gross margins (sometimes even negative, meaning cost of goods sold exceeded revenue), and impairment or one-time charges related to restructuring. In Q4 2025, for example, Wolfspeed’s GAAP gross margin was -13% – essentially, it cost them more to make products than the revenue those products generated ^[106]. That is clearly unsustainable long-term. The path to profitability for Wolfspeed lies in scaling up production and revenues while controlling costs. The new 200mm fab is expected to eventually lower unit costs (producing more chips per wafer and using advanced automation). Wolfspeed has indicated its gross margin should improve as yields rise and volumes increase on the new line. Additionally, the drastic reduction in debt means interest expenses will drop by ~60% ^[107], saving perhaps tens of millions per year in cash interest – which helps narrow the loss. The company also shed some overhead by closing older facilities. Still, analysts do not expect Wolfspeed to be profitable in the immediate future. The “negative multiple” comment ^[108] highlights that the market currently can’t even apply a P/E ratio because the “E” (earnings) is negative. Some projections have Wolfspeed continuing to post net losses through 2026, albeit smaller ones if things improve. Achieving at least break-even EBITDA in the next 1-2 years would be a meaningful milestone for the turnaround.
• Balance Sheet Strength: Thanks to the Chapter 11 reorg, Wolfspeed’s balance sheet is much stronger now than a few months ago. The company eliminated roughly $4.5 billion of debt, bringing total debt down to around $2.0B ^[109]. It also raised about $750M of new financing from a group of investors led by Apollo Global, as part of the restructuring deal ^[110]. This infusion, plus expected tax credits (Wolfspeed anticipates ~$1 billion of cash tax refunds under the U.S. advanced manufacturing credit) ^[111], means Wolfspeed is better capitalized to fund operations in the near term. The Commerce Department did require Wolfspeed to “take additional steps to strengthen its balance sheet” before finalizing the $750M grant ^[112], which the bankruptcy has effectively done. Post-bankruptcy, Wolfspeed should have a lower debt-to-equity ratio (since equity was reset and debt cut) and an improved liquidity runway. The company claimed “ample liquidity” to support customer needs ^[113], suggesting it has sufficient cash and credit to operate for at least the next year or two. Of course, balance sheet risk is not gone: $2B debt is still significant relative to earnings, and those convertible notes due 2026, 2028, 2029 will eventually need to be addressed (the restructuring plan outlines that they will be restructured or refinanced prior to maturity) ^[114]. If Wolfspeed cannot turn cash-flow positive by the time those debt maturities loom, it could face financial stress again. But for now, the immediate solvency risk is alleviated by the reorg.
• Cash Flow: Wolfspeed has been free cash flow (FCF) negative due to its investments. It poured capital into building the Mohawk Valley fab and other expansion (part of a $6B capex plan). In the last year, its operations also consumed cash because of the large losses. The bankruptcy allowed it to pause or reduce some cash outflows (for example, deferring $120M in interest payments until after June 2025) ^[115]. Going forward, investors will watch whether Wolfspeed’s cash burn continues or if it moderates. The company likely still spent a lot of cash in early 2025 on fab construction, but that should taper as the facility is now online. If revenue ramps and losses shrink, operating cash flow could improve. The goal would be to reach a point where Wolfspeed’s operating cash flow covers its necessary capex – that would signify a sustainable business. Until then, the company might rely on existing cash reserves, the tax credit refunds, and possibly tapping equity or strategic partners for funding if needed (there’s speculation Wolfspeed could partner with an OEM or another semiconductor company to share the cost of expansion, which could bring in cash).
• Market Position & Moat: Fundamentally, Wolfspeed’s market position is a key asset. It is a pioneer in silicon carbide – the company (originally named Cree, Inc.) was a first mover in SiC materials going back to the 1990s. It has a large patent portfolio and know-how in producing high-quality SiC crystals and wafers. This upstream expertise gives it a bit of a moat, as making defect-free SiC wafers at 200mm is extremely challenging. Wolfspeed is also integrated downstream – it makes SiC power devices (like MOSFETs and Schottky diodes) that go into EV inverters, solar power systems, etc. Being integrated from material to device can be an advantage in optimizing performance. Moreover, Wolfspeed has built relationships with major customers (as noted, GM, JLR, etc.). There’s often a long design-in cycle for automotive parts; Wolfspeed’s chips are qualified in some car models and projects, so it has incumbent advantage for those programs. The silicon carbide ecosystem is still relatively small (compared to mainstream silicon chips), and Wolfspeed is one of the top pure-play names alongside a few others (like Coherent Corp which also makes SiC materials). This position could attract strategic interest – for instance, some have speculated that larger chip companies or even automakers could consider partnerships or investments in Wolfspeed to secure supply of SiC (no concrete deals on that front in recent news, but it’s a possibility longer term).
• Key Fundamental Metrics: To summarize some metrics: Trailing twelve-month revenue ~$758M ^[116], trailing net loss ~$1.6B ^[117]. Gross margin was negative in recent quarters (non-GAAP gross margin was slightly positive if excluding certain charges, but still very low). R&D and SG&A expense – Wolfspeed historically spent a hefty ~40%+ of revenue on R&D (a positive in terms of innovation, but a drag on profitability). One bright spot: Wolfspeed’s book-to-bill (order intake vs shipments) was reportedly strong prior to bankruptcy, meaning demand exists if they can supply it. They had a large backlog of customer orders (over $2B at one point). However, some of that backlog’s value may be uncertain if customers renegotiated due to delays.

In conclusion, fundamentally Wolfspeed is a company with cutting-edge technology in a high-growth market, but it must fix its financial picture. The bankruptcy restructuring was step one – reducing debt and interest burden. Step two is now to drive revenue growth and improve margins so that the company can approach breakeven and eventually profitability. Investors will be watching metrics like revenue growth %, gross margin %, operating margin, and cash flow in upcoming quarters as the litmus test of improvement. If Wolfspeed can demonstrate progress on those fronts while maintaining its technological edge, it could validate the bull case. If not, its fundamental struggles could continue to weigh on the stock.

Technical Analysis & Price Targets

From a technical analysis perspective, Wolfspeed’s stock chart in 2025 looks unlike that of any typical semiconductor stock – it more closely resembles a “hype cycle” penny stock chart due to the bankruptcy. Nonetheless, we can glean some insights on trends, momentum indicators, and key price levels:

• Trend & Moving Averages: Prior to the September spike, WOLF was in a long-term downtrend. It had fallen from around $80 in late 2022 to below $5 by mid-2025, with lower highs and lower lows as operational issues mounted. The bankruptcy news in mid-2025 then accelerated the decline to the sub-$1 range by late summer ^[118] (indeed, it hit multi-decade lows around 39 cents ^[119]). The enormous rally at the end of September broke that downtrend violently – the stock’s price literally increased ~20-fold in days, blasting through any moving average. For example, the 50-day and 200-day moving averages were irrelevant during that move (the stock went from far below them to far above in one session). Now, with the post-spike trading, technical analysts will likely reset their view. The 50-day MA will start rising sharply as the days of $1 prices drop off. Currently, WOLF is trading well above its key moving averages, which is technically bullish, but those averages are skewed by the drastic change.
• Relative Strength Index (RSI): The 14-day RSI for WOLF spiked into extreme overbought territory during the rally. On September 29–30, RSI values (though not officially published, we can infer) would have been near the maximum (close to 100) given the magnitude of the jump. Such an RSI indicates a very overbought condition, often a precursor to a pullback. Indeed, after hitting ~$32, the stock did retrace to ~$21 in early October (a healthy correction of about one-third from the peak). As of Oct 9, after rebounding to ~$30, the RSI is likely back above 70, suggesting it’s once again borderline overbought. Traders should be cautious as these high RSI levels can signal that bullish momentum may be due for a pause or reversal. The RSI will bear watching if the stock continues to fluctuate – a drop of RSI below, say, 50 could indicate momentum turning bearish if selling pressure emerges.
• MACD & Momentum: The MACD indicator for WOLF turned strongly positive after the late-September move. The MACD line shot above the signal line, reflecting the surge in upward momentum. Given the abnormal price action, the MACD histogram would have shown a huge bulge. In early October, as the stock pulled back from its peak and then rebounded, the MACD likely narrowed a bit but remains in bullish territory. One thing to note: technical indicators like MACD are less reliable when a stock undergoes such discontinuous moves (because the data is skewed by the outlier candles). Still, as of now, momentum is positive – the stock is making a series of higher lows after the initial spike (e.g., it bottomed around $21 on Oct 2, then $26 on Oct 6, and now back to $30). If one were charting a short-term pattern, it almost resembles a bull flag or pennant: a sharp rise, then a consolidation between ~$22 and $32, and potentially a breakout if it clears the $32 resistance. Momentum traders may see a run past the recent high as a breakout signal.
• Support and Resistance Levels: Given the unique situation, we identify a few key price levels:
  • Support: The first major support is around $20–$22. This zone corresponds to the area where the stock found a floor after the initial spike (around $21.6 was the closing price on Sep 29) ^[120]. It was also the level of a volatility halt and some consolidation on that day. If the stock were to fall back, one would expect buyers to possibly step in around the low $20s, recalling that it previously bounced there. Below that, the next support might be around $14–$15 (the intraday midpoint on Sep 29) ^[121], though that is a long way down and only comes into play if the stock collapses more than 50% from current levels. On the upside, minor support may exist around $26–$27 (recent intra-day lows). Indeed, Oct 6 saw a dip to ~$26 that was bought, indicating some support interest there ^[122].
  • Resistance: The chief resistance is the recent high near $34. The stock briefly traded as high as about $34.25 on Sep 30 ^[123]. This aligns with the upper bound of its 52-week range. It’s common for the first attempt to break a new high to fail – which it did – so $34 is the level to watch on any further rallies. If WOLF can definitively break above $34 on strong volume, it would mark a new post-bankruptcy high and could trigger another wave of momentum buying (some technical traders have stop-buy orders above such levels). Beyond $34, there isn’t much recent chart history – the stock would be in “no man’s land” up towards the $40s. On a multi-year view, there might be psychological resistance at $50 (a round number and area of trading in early 2022), but it’s questionable to compare pre-2025 levels directly given the changed share count and fundamentals.
  It’s also worth noting that if the stock starts declining, support levels could break quickly because there’s a lack of established trading ranges due to the rapid ascent. Stop-loss orders could cascade. Conversely, on a rally, the lack of overhead supply (since so many shares were canceled and new shares are tightly held by a few creditors initially) might mean relatively thin resistance – small buying pressure can move the stock a lot.
• Volume & Trading Activity: The volume on Wolfspeed has been enormous during the late September event – e.g., on Sept 29, volume spiked to tens of millions of shares (TS2 noted 118M shares traded on Sept 26 around the plan approval hype) ^[124]. Considering there are only ~25M shares outstanding now, that implies the entire float may have turned over multiple times, indicating heavy day trading. The volume has remained high into October (several million shares per day). If volume starts drying up, that could either stabilize the stock (if it finds an equilibrium) or lead to volatility if any large holder tries to exit. Given that many of the new shares are held by creditors who might not want to be long-term shareholders (e.g., some might sell to lock in recovery), there could be sporadic large blocks hitting the market.
• Analyst Price Targets and Technical Outlook: As mentioned, analyst price targets (~$8–$10) are far below the current market price ^[125]. From a technical standpoint, that disparity suggests that if the stock were to follow a path towards those targets, it would have to break multiple support levels and essentially retrace the entire spike. For example, a drop to ~$10 would mean falling through the $20 support, the $15 secondary support, etc. That could happen if, say, an earnings report disappoints or if broader market sentiment turns risk-off. On the flip side, no analyst is publicly predicting a huge further upside move in the near term – the highs we’ve seen ($30s) are already well above their targets. Sometimes such gaps between analyst targets and price can presage downward mean-reversion, but in a special situation stock like this, the normal rules may take time to play out.

In conclusion, technical analysis on WOLF highlights the stock’s high volatility and key levels: support around low $20s, resistance around mid-$30s. The momentum is currently positive but fragile. Traders may continue to drive short-term swings, but eventually the stock’s trajectory will likely reconnect with fundamentals. For those using technical signals: keep an eye on volume trends, the RSI cooling off or spiking, and whether the stock charts a higher high (bullish) or starts making lower lows (bearish) relative to the initial post-bankruptcy range. With a stock this news-driven, technical indicators can be quickly overridden by fundamental developments, so it’s wise to use TA as one input among many.

Comparison to Competitors and Industry Peers

Wolfspeed operates in the semiconductor industry, specifically focusing on wide-bandgap semiconductors (silicon carbide and some gallium nitride). It’s useful to compare WOLF with some relevant peers to put its situation in context:

• Onsemi (ON) and NXP Semiconductors (NXPI): These are large, established semiconductor companies that are also investing in silicon carbide for the automotive market. Onsemi (formerly ON Semiconductor) in particular has become a direct competitor; it acquired GT Advanced Technologies (a SiC wafer producer) and is ramping its own SiC device production. The crucial difference is that Onsemi and NXP are profitable and much larger. Reuters notes that Onsemi and NXP trade at forward P/E ratios of about 17.9 and 16.7, respectively ^[126], reflecting steady earnings expectations, whereas Wolfspeed has a negative forward P/E (no earnings) ^[127]. In other words, the market views Onsemi and NXP as comparatively stable growth plays in the EV chip space, while Wolfspeed is speculative. In terms of stock performance, Onsemi’s stock has been near all-time highs in 2025, buoyed by its profitable growth in EV and industrial segments. NXP, a broad-based chipmaker, also has performed solidly. Wolfspeed’s wild volatility stands in contrast: it plunged ~95% and then rebounded 10x, which is not something seen in its larger peers. Market cap-wise, Onsemi (~$50B) and NXP (~$40B) dwarf Wolfspeed (~$0.7B), underscoring Wolfspeed’s now small-cap status. This could actually make Wolfspeed a potential acquisition target for a larger player if they want Wolfspeed’s SiC tech at a bargain, though any such scenario is purely speculative.
• STMicroelectronics (STM) and Infineon (IFX): These European chip giants are leaders in power semiconductors and have aggressively moved into SiC as well. STMicro has its own SiC wafer supply and has been scaling production, even as it still buys some SiC substrates from third parties (including previously from Cree/Wolfspeed). Infineon, similarly, is expanding SiC product lines and recently announced new SiC fabs. Both companies are profitable and supported by strong automotive businesses. They’ve also received government support (EU CHIPS funding etc.) for their expansion. Compared to Wolfspeed, ST and Infineon have more diversified businesses (they sell many other types of chips, not just SiC). This means Wolfspeed is more of a pure-play on SiC – potentially more upside if SiC demand booms, but also more risk if that market falters. In terms of valuation, ST and Infineon trade at reasonable P/E ratios and price-to-sales in the mid-single digits, whereas Wolfspeed’s price-to-sales is currently around 0.8 (trailing) ^[128] after the bankruptcy (reflecting its distress). That low P/S might imply Wolfspeed is cheap relative to sales, but it’s also due to its lack of profitability.
• Other SiC Players: There are a few specialized peers:
  • Coherent Corp (COHR) – formerly II-VI and the combined entity after acquiring Finisar – produces SiC substrates and is a direct competitor in materials. It’s not as heavily in devices as Wolfspeed, but it’s a peer on wafer tech. Coherent is also unprofitable recently and its stock is down in 2025, but not to the extent Wolfspeed was.
  • Rohm Semiconductor – a Japanese company that makes SiC devices (and works closely with automakers like Toyota). Rohm is stable and backed by Japan’s ecosystem.
  • GaN Systems, Transphorm, etc. – for GaN (gallium nitride) devices, which compete in some similar power electronics spaces. Wolfspeed also has GaN on SiC products (particularly for RF applications like 5G base stations). But GaN is a smaller part of Wolfspeed’s focus now. In any case, GaN power devices are more an emerging competitor for lower-voltage applications, whereas SiC dominates higher voltage (EV, etc.).
  • Chinese Entrants: As noted, China is heavily investing in domestic SiC production. Companies like Sanan Optoelectronics, Tianyu Semiconductor, and others are scaling up SiC wafer and device manufacturing. They benefit from significant government subsidies and a protected local market. Competition from China is a real threat – for example, Chinese EV makers might prefer local SiC suppliers over importing from Wolfspeed due to cost or geopolitical reasons. Wolfspeed itself cited “changing U.S. trade policies” (likely restrictions on certain Chinese sales or uncertainties around tariffs) as a challenge ^[129]. So, in competitor terms, geopolitics plays a role: Wolfspeed (a U.S. firm) vs. Chinese suppliers vying for the global EV market. It’s somewhat analogous to the solar panel industry, where Chinese companies came to dominate production and drive down prices. Wolfspeed will try to stay ahead by technology – e.g. moving to 200mm wafers faster – but it’s an area to watch.
• Competitive Moat and Differentiation: Wolfspeed’s main differentiator relative to these competitors is its vertical integration in SiC and first-mover advantage. It has decades of experience in SiC crystal growth, whereas companies like Onsemi are newer to it (though catching up fast via acquisitions). Wolfspeed is also U.S.-based, which could help it secure government contracts or partnerships, especially for any defense or aerospace applications of SiC (the U.S. is keen on domestic semiconductor capability). The market outlook remains bright for all players – a projected ~16% CAGR in SiC through 2032 means there may be “room for all” to some extent ^[130]. However, how the market share is divided will depend on execution. As of a couple years ago, Wolfspeed commanded a significant share of the SiC substrate market (some estimates had >60% share for SiC wafers). It’s not clear where that stands after recent capacity additions by others. But maintaining a lead in substrate quality and capacity could allow Wolfspeed not only to make its own devices but also sell wafers to others (it used to supply some competitors too).

In financial comparisons, Wolfspeed’s margins and growth lag peers, but its debt is now more in line after restructuring. Peers like Onsemi have gross margins ~45% and are solidly profitable; Wolfspeed’s gross margin was negative last year. That highlights the internal issues Wolfspeed must fix. Analysts have noted that unlike Wolfspeed, peers Onsemi and NXP are trading at reasonable forward P/Es around 17, indicating investor confidence in their earnings ^[131]. Wolfspeed has to rebuild that confidence.

Finally, from an investment perspective, some investors may prefer an indirect play like Onsemi to get SiC exposure without single-company risk, while others might see Wolfspeed as a high-risk bet with potentially higher reward if it turns around. Comparatively, Wolfspeed’s stock will likely be more volatile than its larger peers. For instance, Onsemi’s beta is around 1.7, whereas Wolfspeed’s beta jumped (StockAnalysis lists Beta ~1.31, but that doesn’t capture recent turmoil) ^[132]. In reality WOLF’s effective beta is much higher given its price swings.

In summary, Wolfspeed’s competitors are generally in better financial shape and have steadier stocks, but Wolfspeed holds a unique niche as a pure-play SiC innovator. The company’s post-bankruptcy story will be about whether it can leverage that niche to catch up and perhaps even surpass some competitors in the fast-growing SiC segment, or whether the likes of Onsemi, ST, and emerging players will out-execute it. Investors should keep an eye on developments like new SiC contract wins (for example, if Wolfspeed secures a big multi-year supply deal with an automaker – some peers have announced such deals), as those can indicate who is pulling ahead in the competitive race. For now, Wolfspeed has a lot to prove to match the performance of its peers in the wide-bandgap semiconductor industry.

Sources:

• Reuters – Wolfspeed shares rally after chipmaker exits Chapter 11 bankruptcy ^{[133] [134] [135]}
• Reuters – Wolfspeed exits Chapter 11 bankruptcy, slashes debt and interest costs ^{[136] [137]}
• TS2 (Tech Space 2.0) – Wolfspeed (WOLF) Stock Skyrockets 1,100% on Shocking Chapter 11 Reorganization ^{[138] [139] [140]}
• TS2 – Wolfspeed’s Wild Rebound: Stock Jumps 33% as Chipmaker Escapes Bankruptcy ^{[141] [142] [143]}
• TS2 – Wolfspeed’s Wild Ride: From Bankruptcy Plans to EV Boom – What’s Next for WOLF Stock? ^{[144] [145]}
• StockAnalysis – Wolfspeed Stock Overview (analyst consensus and targets) ^{[146] [147]}
• CompaniesMarketCap – Wolfspeed market capitalization as of Oct 2025 ^[148]
• Reuters – Wolfspeed files for bankruptcy protection to cut worsening debt (background) ^[149]
• Reuters – EV chipmaker Wolfspeed set to receive $750 million US chips grant (context on funding) ^{[150] [151]}
• Yahoo Finance/Motley Fool – Back From Bankruptcy, Is the New Wolfspeed a Buy? ^[152] (commentary)
• SimplyWall.St via Invezz – Wolfspeed stock surges 35%, analysts warn of downside ^[153].

References

1. www.reuters.com, 2. companiesmarketcap.com, 3. ts2.tech, 4. ts2.tech, 5. ts2.tech, 6. ts2.tech, 7. www.reuters.com, 8. ts2.tech, 9. stockanalysis.com, 10. www.reuters.com, 11. www.reuters.com, 12. companiesmarketcap.com, 13. www.reuters.com, 14. www.reuters.com, 15. ts2.tech, 16. ts2.tech, 17. companiesmarketcap.com, 18. www.reuters.com, 19. www.reuters.com, 20. ts2.tech, 21. ts2.tech, 22. www.reuters.com, 23. ts2.tech, 24. www.reuters.com, 25. www.reuters.com, 26. www.reuters.com, 27. ts2.tech, 28. ts2.tech, 29. www.reuters.com, 30. ts2.tech, 31. ts2.tech, 32. ts2.tech, 33. ts2.tech, 34. ts2.tech, 35. www.reuters.com, 36. ts2.tech, 37. ts2.tech, 38. ts2.tech, 39. ts2.tech, 40. ts2.tech, 41. www.reuters.com, 42. www.reuters.com, 43. www.reuters.com, 44. stockanalysis.com, 45. www.timothysykes.com, 46. www.timothysykes.com, 47. www.timothysykes.com, 48. ts2.tech, 49. ts2.tech, 50. ts2.tech, 51. ts2.tech, 52. stockanalysis.com, 53. ts2.tech, 54. ts2.tech, 55. www.reuters.com, 56. www.reuters.com, 57. www.reuters.com, 58. ts2.tech, 59. ts2.tech, 60. www.reuters.com, 61. stockanalysis.com, 62. ts2.tech, 63. ts2.tech, 64. ts2.tech, 65. ts2.tech, 66. ts2.tech, 67. ts2.tech, 68. ts2.tech, 69. ts2.tech, 70. ts2.tech, 71. ts2.tech, 72. ts2.tech, 73. www.reuters.com, 74. www.reuters.com, 75. www.reuters.com, 76. www.reuters.com, 77. www.reuters.com, 78. ts2.tech, 79. ts2.tech, 80. ts2.tech, 81. stockanalysis.com, 82. stockanalysis.com, 83. stockanalysis.com, 84. finance.yahoo.com, 85. finance.yahoo.com, 86. stockanalysis.com, 87. www.reuters.com, 88. stockanalysis.com, 89. ts2.tech, 90. ts2.tech, 91. ts2.tech, 92. ts2.tech, 93. ts2.tech, 94. www.reuters.com, 95. ts2.tech, 96. www.reuters.com, 97. ts2.tech, 98. ts2.tech, 99. www.reuters.com, 100. stockanalysis.com, 101. ts2.tech, 102. ts2.tech, 103. ts2.tech, 104. stockanalysis.com, 105. ts2.tech, 106. ts2.tech, 107. ts2.tech, 108. www.reuters.com, 109. ts2.tech, 110. www.reuters.com, 111. www.reuters.com, 112. www.reuters.com, 113. stockanalysis.com, 114. www.reuters.com, 115. www.reuters.com, 116. stockanalysis.com, 117. stockanalysis.com, 118. ts2.tech, 119. ts2.tech, 120. ts2.tech, 121. ts2.tech, 122. www.timothysykes.com, 123. ts2.tech, 124. ts2.tech, 125. ts2.tech, 126. www.reuters.com, 127. www.reuters.com, 128. www.reuters.com, 129. www.reuters.com, 130. ts2.tech, 131. www.reuters.com, 132. stockanalysis.com, 133. www.reuters.com, 134. www.reuters.com, 135. www.reuters.com, 136. www.reuters.com, 137. www.reuters.com, 138. ts2.tech, 139. ts2.tech, 140. ts2.tech, 141. ts2.tech, 142. ts2.tech, 143. ts2.tech, 144. ts2.tech, 145. ts2.tech, 146. stockanalysis.com, 147. stockanalysis.com, 148. companiesmarketcap.com, 149. www.reuters.com, 150. www.reuters.com, 151. www.reuters.com, 152. finance.yahoo.com, 153. stockanalysis.com