Wolfspeed, Inc. (NYSE:WOLF) shares are trading higher Tuesday, adding to strong gains in recent weeks. The company’s restructuring deal appears to have sparked renewed investor confidence.
What To Know: The optimism comes after the company recently initiated a pre-packaged Chapter 11 filing. As part of the restructuring plan, Wolfspeed expects to eliminate approximately $4.6 billion in debt, representing a 70% reduction, and lower annual cash interest payments by 60%. The company noted that it expects the restructuring to accelerate its path to profitability.
