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Here's Why Wolfspeed Stock Is Soaring Today
The pent-up short squeeze just needed a fresh catalyst. It got one after yesterday's close.
Shares of industrial outfit Wolfspeed (NYSE: WOLF) are ending a raucous trading week as wildly as they started it, rallying again on Friday to overcome Tuesday's sizable pullback from the prior week's explosive gains. As of 12:56 p.m. ET, the stock is up 23%, in fact, or 35% above last Friday's close.
There's a clear catalyst for today's big move, too. But, there's also (much) more to the story.
Image source: Getty Images.
