Up 14%, Should You Buy Wolfspeed Stock Right Now?

Five months ago, Wolfspeed (NYSE: WOLF) seemed doomed as its growth stalled out, its net losses widened, and its debt levels skyrocketed. On June 30, the chipmaker filed for Chapter 11 bankruptcy protection as its stock plummeted to an all-time low of $0.39 per share.But on Sept. 29, it emerged from bankruptcy protection after reducing its total debt by roughly 70%, extending its remaining debt maturities to 2030, and reducing its annual cash interest expenses by about 60%. Unfortunately, all of its old shares were cancelled, and its investors recovered only a tiny fraction of its new shares.However, the "new" Wolfspeed's stock has already risen about 14% since its opening price of $18 on Sept. 29. That gain might not seem too impressive, but it indicates its business is gradually stabilizing. So is it still worth buying in this wobbly market?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool