%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Small-cap stock %Wolfspeed (NYSE: $WOLF ) is up 24% on Sept. 30 after the company announced that it has emerged from Chapter 11 bankruptcy. In a news release, Wolfspeed said that it has completed its financial restructuring and exited Chapter 11 bankruptcy protection from its creditors. That news has the stock of Wolfspeed, which makes microchips and semiconductors, up nearly 25% in premarket trading. Wolfspeed also said that it has managed to reduce its debt load by 70% and lowered its annual cash interest expenses by 60%. Management stressed that they have enough liquidity to continue supplying customers with silicon carbide microchips, which are a type of energy-efficient semiconductor used in electric vehicles and industrial power systems. The company has also issued new shares, under the same ticker symbol, canceling previously issued stock. Wolfspeed filed for Chapter 11 bankruptcy protection in June of this year, citing unsustainable debt and a lack of sufficient cash. The North Carolina-based company's market capitalization currently stands at $3.46 billion U.S., placing it in the small-cap camp defined as any security with a valuation below $10 billion U.S. Owing to the bankruptcy filing, it has been a wild ride for WOLF stock this year, which at one point traded as low as $0.40 U.S. per share. The stock is currently trading at $22.10 U.S. a share, having skyrocketed in recent weeks on expectations that it would emerge from bankruptcy.