Wolfspeed jumps; WSJ reports Wolfspeed restructuring talks shift to Apollo, other creditors

Shares of Wolfspeed WOLF.N are up 20.5% at $4.03 in higher volume Tues afternoon as the stock resumed trading following a Wall Street Journal report on the company

The Wall Street Journal, citing people familiar with the matter, reported that Apollo Global Management has engaged investment bank Moelis as it negotiates a possible debt restructuring with semiconductor supplier Wolfspeed

Wolfspeed late last week raised going-concern doubts and forecast weaker-than-expected annual revenue

WOLF is now down about 40% YTD