New York, Feb 18, 2026, 05:55 EST — Premarket
- Wolfspeed climbed roughly 1% before the bell, coming off a big rally in the last session.
- A filing linked to Point72 and Steven A. Cohen disclosed a 3.8% stake in Wolfspeed as of Dec. 31.
- Wolfspeed tapped Stefan Steyerl to serve as vice president of sales for Europe, Middle East and Africa, starting March 1
Wolfspeed shares edged higher early Wednesday, picking up from a sharp rally the previous session. Investors were digesting news of a hedge fund stake disclosure and a fresh addition to the management team at the silicon carbide chipmaker.
Shares gained 0.9% to $19.30 ahead of the open, building on Tuesday’s 7.8% climb to $19.12.
Why does it matter? Wolfspeed’s still working through the aftermath of a court-led restructuring, and its shareholder base keeps shifting. In a setup like this, even a single filing or a snippet of corporate news tends to land harder than it would at some slow-moving, big-cap company.
Wolfspeed’s business centers on silicon carbide, or SiC—an essential material for power semiconductors in electric vehicles and high-voltage setups. Demand has swung unpredictably. Investors, keen for a shift, tend to jump on any hint that the company could move past its trickiest segments.
Point72 Asset Management, Point72 Capital Advisors, and Steven A. Cohen disclosed a combined holding of 990,150 Wolfspeed shares—3.8% of the class—according to a Schedule 13G/A with the U.S. Securities and Exchange Commission. As of Dec. 31, the filing stated, the position wasn’t intended to influence control.
Wolfspeed on Tuesday tapped Stefan Steyerl as its new vice president of sales for Europe, the Middle East and Africa, with the appointment set for March 1. “Stefan’s deep industry expertise and leadership experience will be instrumental as Wolfspeed accelerates the global transition to silicon carbide,” said Matthias Buchner, the company’s sales and marketing chief. Steyerl commented, “We’re uniquely positioned to help customers across EMEA unlock the full potential of electrification.” Wolfspeed
Wolfspeed shares swung sharply on Tuesday. The stock kicked off at $17.27 before reaching up to $20.10 and dipping to $17.09, with roughly 2.4 million shares traded during the session, according to company figures.
The situation remains complicated. Wolfspeed’s most recent quarter saw revenue come in at roughly $168 million, with the company closing out the period holding about $1.3 billion in cash, cash equivalents, and short-term investments. Looking ahead, it’s guiding for fiscal third-quarter revenue somewhere in the $140 million to $160 million range. “We are operating with discipline to maintain balance sheet strength,” CEO Robert Feurle said in the release. SEC
Derivatives desks are betting on sharp moves. According to TheFly at TipRanks, implied volatility stayed north of 100%, signaling hefty swings priced into options. Call contracts led put activity in the tracked session.
A few pitfalls are hard to miss here. Extended-hours trading has a tendency to amplify even minor imbalances, and the 13G amendment only tells you about holdings as of an earlier point — it doesn’t confirm fresh buying. This stock’s been whipsawed before, especially once investors shift their attention back to shaky demand spots and the company’s still-uncertain route to restoring margins.
