Wolfspeed stock price analysts note that Wolfspeed stock

Analysts note that Wolfspeed stock price has shown relative strength versus Nasdaq Semiconductor Index over the past two weeks. The struggling chipmaker filed for Chapter 11 bankruptcy protection on June 30 this year after its debt grew unmanageable. The company successfully negotiated a massive reduction of its debt -- about 70%. With its creditors satisfied, on Monday, Wolfspeed announced its "emergence from Chapter 11 protection." Analyst’s Disclosure: I/we have a beneficial long position in the shares of WOLF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Wolfspeed stock price faces resistance at $29.85, a technical ceiling tested during last month’s high-volume rally.