Wolfspeed: The Math Still Doesn't Quite Work

2025-09-10 14:40:12 ET

Wolfspeed Overview

In this meme-ified market, it's tempting to write off Wolfspeed, Inc. ( WOLF ) as just another 'hot' retail play that is likely to fade once interest moves elsewhere. WOLF stock ticks a lot of the boxes for a short-term rally: a low stock price (still sub-$2, and not that long ago sub-$1) and a huge potential market (emphasis on 'potential'). There is, of course, high short interest (over 27% of the float as I write this) which bulls believe can drive a "short squeeze". That's even though the short trade itself is quite small (about $77 million) and likely is mostly related to hedges against the $6.5 billion in debt that has pushed Wolfspeed into a pre-packaged bankruptcy....

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