Wolfspeed shares are trading higher after the company and Infineon announced the expansion and extension of their existing long-term 150mm silicon carbide wafer supply agreement.
Portfolio Pulse from Benzinga Newsdesk
Wolfspeed's stock is trading higher following the announcement of an expanded and extended long-term 150mm silicon carbide wafer supply agreement with Infineon.
January 23, 2024 | 2:31 pm
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POSITIVE IMPACT
Wolfspeed's share price has increased due to the positive market reaction to the extended and expanded supply agreement with Infineon.
The extension and expansion of the supply agreement with Infineon is a positive development for Wolfspeed, indicating a continued and potentially increased revenue stream from this partnership. This news is likely to be viewed favorably by investors, as it suggests stability and growth in Wolfspeed's business operations, which could lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100