Shares of Wolfspeed (WOLF -0.99%) are spiking on Tuesday. The chipmaker's stock was up 11.3% as of 12:42 p.m. ET, as the S&P 500 (^GSPC 0.64%) and Nasdaq Composite (^IXIC 0.67%) were relatively flat.
Wolfspeed's stock is continuing its run-up after yesterday's news that the company had hired a new chief financial officer (CFO) to help the troubled company through its bankruptcy.