Where Will Wolfspeed Stock Be in 1 Year?
(NYSE: WOLF), a leading maker of silicon carbide (SiC) and gallium nitride (GaN) chips, filed for bankruptcy protection on June 30 as its sales stalled out, its losses widened, and its debt levels spiraled. On that dark day, its stock closed at a record low of $0.39.
But on Sept. 29, Wolfspeed emerged from Chapter 11 bankruptcy after reducing its total debt by approximately 70%, extending its maturities to 2030, and reducing its annual cash interest expenses by roughly 60%. Today, it trades at about $23 -- so a $1,000 investment at its all-time low would have grown to nearly $59,000 in just three months.
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Source Fool.com
