On June 17, Wolfspeed rose 8.4% in regular trading, trading at $48.61/share, with turnover of $37.10 million. The rally was driven by the company's official launch of its fifth-generation (Gen 5) silicon carbide (SiC) MOSFET technology targeting next-generation 1200V and 750V automotive and industrial applications.

The Gen 5 technology achieves industry-leading current-carrying capacity per unit area within a 5×5mm package, delivering system efficiency up to 27% higher than competing products and reducing specific on-resistance by 41% compared to the company's Gen 4 platform. The breakthrough positions Wolfspeed to capture growing demand in electric vehicles, charging infrastructure, and industrial power applications.

The stock had previously come under heavy selling pressure after the company filed a registration statement to potentially sell up to 24.07 million shares of common stock, representing approximately 49.8% of total shares outstanding. Since its June 8 high, the stock had corrected over 27% before this rebound, continuing its recent pattern of sharp swings. Wolfspeed completed Chapter 11 restructuring earlier, with its latest quarterly net loss at $119.9 million, indicating fundamentals remain in recovery.

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