Why Wolfspeed Stock Is Skyrocketing Today
Shares of Wolfspeed (NYSE: WOLF) are making a big leap higher in Thursday's trading. The company's share price was up 19.5% as of 12:45 p.m. ET. At the same point in the day, the S&P 500 and Nasdaq Composite were up 1.6% and 2.1%, respectively.Wolfspeed's valuation is roaring higher today following an article from Wall Street Journal Pro that highlighted the semiconductor specialist's status as the most shorted U.S. stock on the market. Despite today's rally, the stock is still down roughly 86.5% over the last year. According to WSJ's report yesterday, Wolfspeed has the highest short interest of any U.S.-based stock. In other words, some investors have borrowed shares in order to bet that the company's share price will go down.Continue reading
Shares of Wolfspeed (NYSE: WOLF) are making a big leap higher in Thursday's trading. The company's share price was up 19.5% as of 12:45 p.m. ET. At the same point in the day, the S&P 500 and Nasdaq Composite were up 1.6% and 2.1%, respectively.
Wolfspeed's valuation is roaring higher today following an article from Wall Street Journal Pro that highlighted the semiconductor specialist's status as the most shorted U.S. stock on the market. Despite today's rally, the stock is still down roughly 86.5% over the last year.
According to WSJ's report yesterday, Wolfspeed has the highest short interest of any U.S.-based stock. In other words, some investors have borrowed shares in order to bet that the company's share price will go down.