US Stock Market Move | Wolfspeed (WOLF.US) continues to rise, with the stock price up more than 12%.

On Tuesday, Wolfspeed (WOLF.US) opened high but then fell, but the stock price still rose, continuing the nearly doubled increase from the previous trading day. As of the time of publication, the stock rose over 12% to $2.59. Last week, the company filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. Although this news may seem negative, the market believes it could be a turning point for the company. According to Wolfspeed's announcement, the company expects to reduce 70% of its debt in this restructuring process, totaling around $4.6 billion. This significant debt reduction is expected to greatly enhance the company's financial flexibility, allowing it to focus on long-term growth and accelerate profitability.