Nasdaq listed Wolfspeed shares soar 180% in two sessions. Here's what triggering the stock price
ADVERTISEMENT His term is effective from September 1, 2025 according to the company filing to the exchanges.
The stock was trading at $2.675 around 10:29 AM ET (8 pm IST) but it opened 43% higher over the Monday closing price of $1.18 per share today hitting the day's high of $3.33.
The price action was accompanied with strong volumes as over 16.6 crore shares changed hands on the Nasdaq around this time.On Monday, Wolfspeed shares had settled with gains of more than 100%.
The stock movement was surprising for Wall Street traders as the company was recently weighed down by financial challenges and restructuring efforts, ET Global Desk reported, citing a TipRanks report.
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Who is Gregor Van Issum?
Van Issum is considered as a veteran of restructuring and has more than 20 years of experience in transformational restructuring and strategic financing and will succeed Kevin Speirits, who served as interim CFO of the firm, as reported by TipRanks.
ADVERTISEMENT Speirits, who is serving as Interim Chief Financial Officer and will remain with Wolfspeed to support the company and ensure a smooth transition, the company filing said. He will be relocating to North Carolina and be based at company headquarters in Durham, NC, reporting to Wolfspeed CEO, Robert Feurle.'In this new role, my priority will be providing Wolfspeed's investors with transparency and clarity, especially during this transformative period,' said van Issum. 'Building on recent steps to restructure Wolfspeed's balance sheet, I will draw on my experience navigating complex business cycles to help create a capital structure that offers agility to respond to rapid shifts in the market," Van Issum said.
ADVERTISEMENT "My background in transformation and restructuring also positions me to support Wolfspeed's strategic focus on improving profitability. At this pivotal time in the Company's life cycle, I am honored to help guide Wolfspeed as it leverages its competitive advantages—world-class facilities, exceptional talent, and robust intellectual property—to advance the incredible progress that Robert and the Wolfspeed team have made in recent months and solidify its leadership in silicon carbide technology,' he added.Wolfspeed, Inc. is a leading manufacturer of wide‐bandgap semiconductor materials and devices, primarily based on silicon carbide (SiC) and gallium nitride (GaN) technologies.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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