Wolf speed stock

[heel79]

Went in heavy (for me) last week at 40 cents. Gone up 450 percent since and I am tempted to sell. I never do that but this is tempting. Seems like some on here had good knowledge of it. I don't need money and typically I buy and just sit. Any thoughts on its future?

 

[superrific]

If you can get that kind of gain with a penny stock, sell. Someone might be running a pump and dump and you got in during the pump. Don't get taken to the dump.

 

[gtyellowjacket]

Would sell but would never have bought the stock in the first place and missed out on the crazy gain so probably should do the opposite of my suggestion.

 

[nrsair]

Good enough to make a post about, good enough to sell. You could always sell enough to make back your initial investment (or more) and let some ride.

 

[dcf2]

I'm likely more conservative than you but... sell 33% to take some gain off the table park that in a 6 month T-Bill to see where we are at the end of the CY and let the rest ride... YOLO

ROM how much are you talking about?

 

[heel79]

I'm likely more conservative than you but... sell 33% to take some gain off the table park that in a 6 month T-Bill to see where we are at the end of the CY and let the rest ride... YOLO

ROM how much are you talking about?

10000 shares. There are other factors, including tax exposure.

 

[JosephFreeman]

Wolfspeed is now sitting wolf.

 

[heel79]

Up 1.04 pre market

 

[Blurb]

I’d sell. You could lose everything when bankruptcy wipes out the shareholders.

 

[heel79]

I’d sell. You could lose everything when bankruptcy wipes out the shareholders.

Tempting . But some analysts see it going to 20. I would just reinvest and if I see something I want I might.

 

[Blurb]

“For existing equity holders, the impact is severe: Wolfspeed’s common stock will be canceled. Current shareholders are expected to receive a pro rata share of just 3.0% to 5.0% of the new common equity in the reorganized company, subject to further dilution from other issuances contemplated by the restructuring. This outcome underscores the priority of debt claims in insolvency proceedings and highlights a significant loss for current investors.

Investors are cautioned that trading in Wolfspeed's securities during the Chapter 11 process is highly speculative, and current share prices may bear little relation to any actual recovery, with significant loss for equity holders expected if the plan is confirmed.”

You are in a Pump and Dump situation.

 

[heel79]

“For existing equity holders, the impact is severe: Wolfspeed’s common stock will be canceled. Current shareholders are expected to receive a pro rata share of just 3.0% to 5.0% of the new common equity in the reorganized company, subject to further dilution from other issuances contemplated by the restructuring. This outcome underscores the priority of debt claims in insolvency proceedings and highlights a significant loss for current investors.

Investors are cautioned that trading in Wolfspeed's securities during the Chapter 11 process is highly speculative, and current share prices may bear little relation to any actual recovery, with significant loss for equity holders expected if the plan is confirmed.”

You are in a Pump and Dump situation.

Thx

 

[superrific]

Tempting . But some analysts see it going to 20. I would just reinvest and if I see something I want I might.

Do not believe analysts.

What's your investment thesis? Not "line goes up" but rather: why do you think this stock has value and will appreciate? And if you don't really have an answer to that, then sell it and take your lucky profit. When stocks are beaten down like that, almost nothing good is happening in trading behind the scenes. Someone might have bought some common stock to give them leverage over the board or a position in bankruptcy (for instance, to strategize for possible cramdown), or there's a pump and dump, or there are animal spirits or who knows.

Point is, if you don't know why you bought it or why you are holding it (other than a generic observation that "they might turn it around"), then sell it.