Wolfspeed Inc (NYSE:WOLF) shares were trading flat at $1.72 Thursday afternoon, holding steady for the session after a period of significant volatility. Thursday’s stability follows a 170% surge over the past month sparked by the company’s strategic financial overhaul announced in late June.
What To Know: On June 30, the silicon carbide technology leader voluntarily entered a pre-packaged Chapter 11 restructuring process. The move, which has strong support from over 97% of its senior secured noteholders, is designed to slash total debt by approximately $4.6 billion, a 70% reduction, and cut annual interest expenses by 60%.
