** Shares of Wolfspeed WOLF.N are up 20.5% at $4.03 in higher volume Tues afternoon as the stock resumed trading following a Wall Street Journal report on the company
** The Wall Street Journal, citing people familiar with the matter, reported that Apollo Global Management has engaged investment bank Moelis as it negotiates a possible debt restructuring with semiconductor supplier Wolfspeed
** Wolfspeed late last week raised going-concern doubts and forecast weaker-than-expected annual revenue
** WOLF is now down about 40% YTD
(Reporting by Caroline Valetkevitch)
((caroline.valetkevitch@thomsonreuters.com))
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