Abnormal movement in U.S. stocks | Wolfspeed (WOLF.US) continues to rise, with stock price increasing by over 12%

According to the Zhtng Finance APP, on Tuesday, Wolfspeed (WOLF.US) opened high but fell low, but the stock price still rose, continuing the nearly doubled trend from the previous trading day. As of the time of writing, the stock rose more than 12%, closing at $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 that this may be a turning point for the company's rebirth. According to Wolfspeed's announcement, the company expects to reduce 70% of its debt in this restructuring process, totaling approximately $4.6 billion. This significant reduction in debt is expected to greatly enhance the company's financial flexibility, allowing it to focus on long-term growth and accelerate profitability.