US stock abnormal | Debt restructuring expected to be completed by the end of the third quarter of this year Wolfspeed (WOLF.US) surged 114%

According to the Securities Times APP, on Tuesday, Wolfspeed (WOLF.US) surged 114% to $0.83. In terms of news, the company announced on Monday that it has voluntarily filed for bankruptcy protection under Chapter 11 of the US Bankruptcy Code to restructure its debt, with the restructuring expected to be completed by the end of the third quarter of this year. Wolfspeed stated: "By taking this measure, the company is expected to better execute its long-term growth strategy and accelerate profitability." The company also added that its current cash flow is approximately $1.3 billion, enough to maintain normal operations during the restructuring period without interrupting services to customers or employee salaries and benefits.