Wolfspeed soars 60% after court clears bankruptcy exit plan

Wolfspeed stock surged nearly 60% after-hours Monday after a US court approved its reorganisation plan, setting up the chipmaker's exit from Chapter 11 within weeks. The plan cuts debt by 70% and aligns with Wolfspeed's Q3 recovery timeline. CEO Robert Feurle said the restructuring gives the silicon carbide leader financial flexibility to refocus on growth.