Why Wolfspeed Shares Are Trading Higher By Over 50%; Here Are 20 Stocks Moving Premarket

Shares of Wolfspeed, Inc. (NYSE:WOLF) rose sharply in pre-market trading after the company announced a reorganization plan, with shareholders receiving substituted new common stock.

Wolfspeed's court-approved plan will slash its debt by 70%, from $6.5 billion to $2 billion, and cut interest payments by about 60%. As part of the process, Wolfspeed will reincorporate from North Carolina to Delaware.

Wolfspeed shares jumped 50.9% to $32.63 in the pre-market trading session.

Here are some other stocks moving in pre-market trading.

Gainers

• Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) rose 97% to $1.77 in pre-market trading after the company announced its subsidiary Sunrise New Energy Material was granted U.S. Patent No. US 12,371,341 B2, titled “Preparation Method of an Anode Material for Lithium-Ion Batteries.”
• Vivakor, Inc. (NASDAQ:VIVK) surged 67% to $0.4479 in pre-market trading. Vivakor announced on Monday that it has signed a term sheet with a counterparty to provide up to $23 million in capital by issuing a new series of convertible preferred stock.
• STAK Inc. (NASDAQ:STAK) gained 53.3% to $1.18 in pre-market trading after gaining 12% on Monday.
• SciSparc Ltd. (NASDAQ:SPRC) gained 45.7% to $6.49 in pre-market trading after the company announced that N2OFF stockholders voted and approved the proposed acquisition of SciSparc’s majority owned subsidiary, MitoCareX Bio.
• Beneficient (NASDAQ:BENF) gained 24.3% to $0.4561 in pre-market trading after posting fourth-quarter results.
• Maison Solutions Inc. (NASDAQ:MSS) jumped 23.2% to $1.38 in pre-market trading. Maison Solutions shares jumped 17% on Monday after the company secured an up to $70 million private placement to launch a Worldcoin digital asset treasury.
• BTQ Technologies Corp. (NASDAQ:BTQ) surged 13.7% to $7.12 in pre-market trading after surging 19% on Monday.
• I-Mab (NASDAQ:IMAB) jumped 8.2% to $3.70 in pre-market trading.
• Valneva SE (NASDAQ:VALN) fell 7.9% to $11.81 in pre-market trading. Valneva’s IXCHIQ showed 95% antibody seroresponse sustained four years after single dose in adults aged 18 to 65+.

Losers

• Epsium Enterprise Limited (NASDAQ:EPSM) fell 24.3% to $18.60 in pre-market trading after dipping 30% on Monday.
• Artelo Biosciences, Inc. (NASDAQ:ARTL) declined 23.1% to $4.50 in pre-market trading after the company announced a proposed underwritten public offering.
• Applied DNA Sciences, Inc. (NASDAQ:APDN) shares dipped 19.1% to $4.23 in pre-market trading. Applied DNA Sciences shares jumped 26% on Monday after the company announced a private placement of up to $58 million to launch a BNB treasury strategy and appointed Anthony Scaramucci as an adviser.
• NovaBay Pharmaceuticals, Inc. (NYSE:NBY) dipped 13.3% to $1.38 in pre-market trading after gaining 8% on Monday.
• JFB Construction Holdings (NASDAQ:JFB) fell 12.9% to $11.06 in pre-market trading. JFB Construction shares jumped 85% on Monday after the company announced a $44 million private placement.
• Glimpse Group Inc (NASDAQ:VRAR) fell 11.6% to $1.60 in the pre-market trading after gaining 8% on Monday.
• Boqii Holding Ltd (NYSE:BQ) dipped 11.3% to $8.65 in pre-market trading after jumping 234% on Monday.
• bioAffinity Technologies Inc (NASDAQ:BIAF) declined 11.1% to $2.89 in pre-market trading. bioAffinity Technologies announced the pricing of $4.8 million public offering.
• Firefly Aerospace Inc (NASDAQ:FLY) fell 9.7% to $33.36 in pre-market trading after the company reported its Alpha rocket’s core stage for the next mission was destroyed in a testing mishap.
• Energy Fuels Inc (NYSE:UUUU) fell 6.4% to $15.47 in pre-market trading after the company announced a proposed $550 million private offering of convertible senior notes due 2031.

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