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It’s time now for today’s trending tickers. Starting with Wolf speed, a huge mover today. Look at this chart. After closing up more than 1,700% yesterday, the ticker Wolf, WOLF is up another 39% or so in pre-market. That tells you just how excited investors are after the semiconductor maker completed its struc chapter 11 restructuring. In court filings, Wolf Speed said it has cut its total debt by nearly 70% and will save about 60% on
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annual cash interest and it’s adding five new board directors. Okay, it’s up actually just under 22% in premarket now. On to Firefly Aerospace, which is grabbing headlines after a dramatic test mishap. Shares are down more than 10% in the pre-market after the company confirmed that the core booster for its alpha rocket ship rocket was destroyed during a ground test at its Texas facility, just weeks before its return to flight mission.
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Firefly said all personnel were safe and it is assessing the damage. The setback follows a prior investigation into an earlier failure. Remember, Firefly only went public last month in one of the most hyped IPOs of the year. Time for a quick look at Google’s parent Alphabet. The stock is very much flat in pre-market, but the headline is worth noting. Google agreed to pay 24 and a half million dollars to resolve President Trump’s claim that he was censored after the riot
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at the capital on January 6th, 2021. This week, Google and other tech giants have also been dealing with the rising costs of H1B visas announced by the Trump administration. The latest this morning is that many companies are considering moving jobs outside of the US to hire those workers in India or the Middle East. And while we’re on tech stocks, there’s a much smaller player that’s been posting massive gains.
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SanDisk, the maker of hard drives is continuing its rise in after hours trading up now up more than 20% in the two days on a series of positive updates including at a new fab in lab in Japan and analyst upgrades amid strong demand for memory to fuel the AI era. Finally, Etsy, the online marketplace is making a big move. literally, Etsy announced late yesterday that it will transfer its stock listing to the new New York Stock Exchange on October 13th and will stop trading
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on Nasdaq. Etsy said the switch won’t affect operations and its ticker symbol will rema remain Etsy, ETSY. The news powered the stock up 15.8% yesterday, although it’s giving up some of those gains overnight. Keep watching Yahoo Finance to see where things go from here.
