Wolfspeed Inc. (WOLF) stock soared 5.01% in intraday trading on Friday, driven by the company's strong performance in the electric vehicle (EV) segment and its strategic initiatives to navigate ongoing challenges.
During its Q2 2025 earnings call, Wolfspeed reported a 92% year-over-year increase in EV revenue, indicating robust demand from the automotive sector. This growth, coupled with the company's leadership in 200-millimeter silicon carbide wafer production, has bolstered investor confidence in its long-term prospects.
Despite facing headwinds such as margin pressure, weakness in industrial and energy markets, and negative free cash flow, Wolfspeed has taken proactive measures to strengthen its position. The company secured a $2.5 billion funding package, including a $750 million grant and $750 million in private secured term loan financing, providing a strong liquidity cushion. Additionally, Wolfspeed has successfully reduced operating expenses by 21% in the first half of fiscal 2025, demonstrating effective cost management.
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