Wolfspeed jumps in premarket after bankruptcy filing

Wolfspeed (Pre-Reincorporation)

01/07/2025 09:21

** Shares of chipmaker Wolfspeed WOLF.N up ~74% at 39 cents in a volatile premarket trading

** Co on Monday filed for Chapter 11 bankruptcy protection

** The company said it had $1.3 billion in cash as of the Q3 and expects to emerge from Chapter 11 by the end of the quarter

** "Wolfspeed is continuing to operate as usual throughout the process, including delivering silicon carbide materials and devices to its customers and paying its vendors in the ordinary course," co said in a statement

** WOLF down ~95% YTD

(Reporting by Rashika Singh in Bengaluru)

((Rashika.Singh@thomsonreuters.com;))