24/7 Market News Snapshot 30 June, 2025 – Wolfspeed, Inc. (NYSE:WOLF)
DENVER, Colo., 30 June, 2025 (www.247marketnews.com) – (NYSE:WOLF) are discussed in this article.
Wolfspeed, Inc. (WOLF) has demonstrated robust stock performance, opening at $0.425 and experiencing a substantial 17.65% increase to trade at $0.486. This surge has generated considerable interest, reflected in a trading volume of 86.01 million shares, signaling heightened investor confidence likely spurred by favorable market sentiment within the semiconductor industry. Key resistance levels have been established at previous highs, with support identified near the opening price. Should the current momentum persist, WOLF has the potential to reach even higher resistance levels, although investors are advised to remain vigilant of possible volatility amidst this active trading environment.
In a pivotal development, Wolfspeed has announced its progress in financial restructuring, moving forward with its Restructuring Support Agreement (RSA) alongside key lenders. This agreement has garnered the backing of over 97% of senior secured noteholders and over 67% of convertible debt holders, positioning the company to reduce its overall debt by approximately 70%, equating to a $4.6 billion reduction. Furthermore, this initiative is expected to lower annual cash interest expenses by 60%.
Wolfspeed’s restructuring is being carried out under Chapter 11 of the U.S. Bankruptcy Code, with an anticipated swift resolution that would allow the company to emerge by the end of the third quarter of 2025. During this restructuring phase, Wolfspeed remains focused on its core operations, ensuring uninterrupted delivery of silicon carbide materials and devices to customers while maintaining consistent vendor payments.
Robert Feurle, Chief Executive Officer, emphasized the importance of this restructuring, stating, “Our accelerated restructuring process is crucial for strengthening our capital structure and enabling the next phase of our growth.” This strategic move positions Wolfspeed to not only enhance its operational sustainability but also to reinforce its leadership role in the global semiconductor market, fostering innovation and driving transformative technologies into the future.