Why Wolfspeed Rocketed 27% Higher (Again) on Monday
Source: Motley Fool
2025-04-28 16:51:00 ET
Shares of silicon carbide chipmaker Wolfspeed (NYSE: WOLF) rocketed 26.9% on Monday. The move follows on a big up day last Wednesday as well.
Wolfspeed doesn't report earnings until May 8, and there wasn't any especially relevant company-specific news today. However, the beginning of earnings season has spurred some cautious optimism that Wolfspeed's end markets might be recovering.
With such a sky-high short interest of 41% of shares outstanding and 64% of Wolfspeed's float as of April 15, it appears as though many short sellers have decided -- or have been forced -- to close out their positions, leading to a " short squeeze ."
Wolfspeed Inc. New
NASDAQ: WOLF
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