What a stock market debut: The shares of U.S. chipmaker Wolfspeed, which has restarted after bankruptcy, soared nearly 1500 percent at times on Thursday. The increase was so extreme that trading on the New York Stock Exchange had to be halted multiple times.

From Penny Stock to Price Firework

Wolfspeed filed for creditor protection in the summer and restructured with a debt cut of 4.6 billion dollars and a financial injection of 275 million dollars. Old shares were withdrawn from trading, and investors received new papers. These made an impact: After a low of only 0.40 dollars, they were quoted at around 15 dollars on Thursday – an increase of over 1100 percent.

However, the company is far from its previous highs: Three years ago, the price was over 120 dollars.

Chip factory in Saarland collapsed

Wolfspeed produces power semiconductors for electric cars and was considered a beacon of hope for the European chip industry. Together with ZF, the company wanted to build a huge factory in Ensdorf, Saarland. However, due to weak demand for electric cars, the project was stopped – a setback that significantly contributed to bankruptcy.

With the stock market comeback, Wolfspeed is back in the game. However, whether the soaring continues mainly depends on whether the company can permanently gain a foothold in the future market of electromobility.