Wolfspeed stock rallies 31% after $200M stock sale, aiming to qualify for government grants

From StockTwits: 2025-01-15 14:22:24

Wolfspeed Inc. (WOLF) experienced a significant 31% surge in mid-day trading on Wednesday, its largest single-day rally in two years, following completion of a $200 million at-the-market stock offering. This recovery comes after a 40% stock decline due to new export restrictions targeting semiconductor sales to China. The company aims to strengthen its balance sheet to qualify for $750 million in U.S. government grants and financing for expansion efforts. Retail sentiment on Stocktwits has turned ‘extremely bullish,’ with users anticipating further upside and a potential stock price above $10 by month-end. Despite the rally, Wolfspeed’s stock is still under pressure, down over 80% in the past year and 6.6% year-to-date.



Read more at StockTwits: Wolfspeed Stock Sees Biggest Single-Day Rally In 2 Years As $200M Stock Sale Fuels Retail Optimism