Wolfspeed moves higher as Voya Financial discloses stake

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* Wolfspeed (NYSE:WOLF [https://seekingalpha.com/symbol/WOLF]) shares moved higher by more than 2% on Thursday as asset manager Voya Financial disclosed a stake in the restructured silicon carbide maker.
* The asset manager owns 18.3% of the Delaware-based Wolfspeed, according [https://seekingalpha.com/filing/10529707] to a 13G filing. The 5.3M share stake is passive.
* Wolfspeed emerged from its Chapter 11 restructuring process last month. As part of the restructuring [https://seekingalpha.com/news/4500156-wolfspeed-emerges-from-ch-11-appoints-five-new-members-to-its-board-of-directors], the company drastically reduced the number of shares, significantly cut its debt, relocated its headquarters from North Carolina to Delaware and added five new members to its board of directors.

MORE ON WOLFSPEED

* Wolfspeed: Strengthened Company Emerges From Bankruptcy At Bargain Valuation - Strong Buy [https://seekingalpha.com/article/4827180-wolfspeed-strengthened-company-emerges-from-bankruptcy-bargain-valuation-strong-buy]
* What To Know About Wolfspeed Shares Post Reincorporation [https://seekingalpha.com/article/4826994-what-to-know-about-wolfspeed-shares-post-reincorporation]
* After The Chaos, Wolfspeed Stock Looks Normal Again [https://seekingalpha.com/article/4826800-after-the-chaos-wolfspeed-stock-looks-normal-again-upgrade-hold]
* Wolfspeed emerges from Ch. 11, appoints five new members to its board of directors [https://seekingalpha.com/news/4500156-wolfspeed-emerges-from-ch-11-appoints-five-new-members-to-its-board-of-directors]
* Wolfspeed share volume shrinks as it switches incorporation from N.C. to Del. [https://seekingalpha.com/news/4499919-wolfspeed-switches-incorporation-from-nc-to-del]