Wolfspeed (WOLF) Stock Is Up 23% Thursday: What's Going On?

Wolfspeed Inc (NYSE:WOLF) shares surged 23% to $3.16 Thursday afternoon alongside the broader semiconductor sector, benefiting from a favorable mix of strong economic data and renewed optimism around U.S.-China trade relations.

What To Know: As a manufacturer of silicon carbide semiconductors used in electric vehicles and industrial applications, Wolfspeed is a player in the global energy transition and high-efficiency electronics market.

One catalyst for Thursday’s rally was a 9.2% spike in U.S. durable goods orders in March, the strongest in over eight months, reflecting a surge in capital goods excluding defense and aircraft—a proxy for business investment.

Despite weakness in traditional electronics and computer segments, the surge in high-value manufacturing suggests potential rising demand for Wolfspeed's next-gen semiconductor materials.

Adding to momentum, hopes for easing tensions between the U.S. and China and the potential for tariff exceptions on tech components could be buoying sentiment.

With the Nasdaq-100 up 2.5%, investors on Thursday rotated into high-growth tech names, lifting Wolfspeed as part of the semiconductor rally.

Read Also: China Trade War: 4 Big-Brand Stocks That Will Suffer Most

How To Buy WOLF Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Wolfspeed’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, WOLF has a 52-week high of $30.86 and a 52-week low of $2.06.