Why Wolfspeed Stock Surged This Week Despite Incredible Volatility

Core Insights - Wolfspeed's stock experienced significant volatility, with a 12.3% increase from the previous week's close despite a sell-off in the latter half of the week [1] - The appointment of Gregor van Issum as the new CFO led to a substantial rally, with the stock more than doubling on Monday and Tuesday before a pullback occurred [2][4] - The company is undergoing Chapter 11 bankruptcy proceedings, and van Issum's expertise is expected to be crucial in navigating this process [4] Stock Performance - The stock saw a notable surge at the beginning of the week, attributed to the CFO announcement, but this was followed by a significant correction later [5] - Despite the volatility, the stock ended the week in positive territory, indicating resilience amidst the turmoil [5] Future Outlook - Investing in Wolfspeed at this stage is considered highly risky due to the ongoing bankruptcy process, which may lead to delisting from the NYSE and a shift to OTC markets [6] - Current shareholders are projected to receive only 3% to 5% of the value of the new corporate entity post-restructuring [6]