Why Wolfspeed Shares Are Trading Higher By Over 50%; Here Are 20 Stocks Moving Premarket

Benzinga · Sep 30 17:37

Shares ofWolfspeed, Inc. (NYSE:WOLF) rose sharply in pre-market trading after the company announced a reorganization plan, with shareholders receiving substituted new common stock.

Wolfspeed's court-approved plan will slash its debt by 70%, from $6.5 billion to $2 billion, and cut interest payments by about 60%. As part of the process, Wolfspeed will reincorporate from North Carolina to Delaware.

Wolfspeed shares jumped 50.9% to $32.63 in the pre-market trading session.

Here are some other stocks moving in pre-market trading.

Gainers

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) rose 97% to $1.77 in pre-market trading after the company announced its subsidiary Sunrise...

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