markets

Luke Kawa9/30/25

Retail traders rush into Wolfspeed as it exits Chapter 11 bankruptcy

Wolfspeed is in the midst of completing a very peculiar double act.

Shares of the embattled silicon carbide semiconductor maker are roaring higher in the premarket session after the company announced after the close on Monday that it has successfully completed its restructuring process and is exiting the Chapter 11 bankruptcy process.

The stock also nearly doubled on July 1 after it filed for Chapter 11 bankruptcy!

As of 8:15 a.m. ET, Wolfspeed is among the most mentioned and most positively mentioned tickers on Reddit’s r/WallStreetBets over the past 12 hours, per SwaggyStocks data.

SwaggyStocks WSB mentions — Source: SwaggyStocks

Betting on a very beaten-down company — or outright providing the fuel for a second lease on life — has been a popular strategy among retail traders in search of asymmetry. Opendoor Technologies might be the most recent example of this phenomenon, but the best one is probably Hertz, which retail traders flocked to during the pandemic in 2020 even as the car rental company filed for Chapter 11.

On Monday, the company issued new shares and canceled its old stock as part of this restructuring plan, significantly diluting its preexisting shareholder base.

“Through the restructuring process, Wolfspeed has reduced its total debt by approximately 70%, with maturities extended to 2030, and lowered its annual cash interest expense by roughly 60%,” according to its press release. “With a self-funded business plan supported by free cash flow generation, Wolfspeed is well positioned to leverage its vertically-integrated 200mm manufacturing footprint — underpinned by a secure and scalable US-based supply chain — to drive sustainable growth.”

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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