On June 2, Wolfspeed rose 12.94% in regular trading, trading at $60.98/share, with trading volume of approximately $171 million. The stock surged as capital rapidly flowed back following consecutive declines from May 27 through June 1, forming a sharp technical rebound.
The rebound extends a pronounced pattern of rapid gains and losses that has characterized the stock in recent weeks. The underlying bullish thesis remains intact: research firm Citrini Research previously designated Wolfspeed as a key pick in the AI infrastructure sector, highlighting its irreplaceable position in high-voltage silicon carbide technology. SEC filings show institutions including Citigroup and Slate Path Capital have accumulated positions. The company's AI data center application business grew approximately 30% quarter-over-quarter, as the silicon carbide industry's valuation narrative shifts from electric vehicles toward AI computing power infrastructure.
Notably, the company completed Chapter 11 debt restructuring earlier and reported quarterly revenue of $150.2 million with a net loss of $119.9 million, indicating fundamentals remain in a recovery phase.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments