US Stock Market Move | Wolfspeed (WOLF.US) falls more than 29% and plans to move its registration to Delaware.

On Friday, global silicon carbide manufacturer Wolfspeed (WOLF.US) saw a sharp drop in stock price, with the stock falling over 29% to $1.305 as of press time. On the news front, Wolfspeed recently issued a new announcement, stating that as part of a strategic restructuring plan, the company plans to move its headquarters from North Carolina to Delaware by September 29, 2025. The company is currently in Chapter 11 bankruptcy protection proceedings, and in the announcement, it warned investors that trading its securities is highly speculative and shareholders may face significant losses.