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Wolfspeed Completes Listing Transfer to the New York Stock Exchange
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Intercontinental Exchange (NYSE: ICE) announced that Wolfspeed (NYSE: WOLF) has successfully transferred its listing to the NYSE, commencing trading today. This move allows Wolfspeed to leverage the NYSE's advanced market model and extensive network of business leaders, enhancing its visibility and investor relations. CEO Gregg Lowe emphasized that this listing marks a significant milestone, reinforcing Wolfspeed's status as a leader in Silicon Carbide technology. Since 2000, nearly 300 companies have transferred their listings to the NYSE, representing over $1 trillion in market value.
Positive
Wolfspeed's transfer to NYSE enhances its market visibility and investor relations.
Access to a robust network of over 2,400 companies can provide strategic opportunities.
The listing reinforces Wolfspeed's position as a leader in Silicon Carbide technology.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, announced that Wolfspeed (NYSE: WOLF), a leader in Silicon Carbide technology and production, has completed its listing transfer and will begin trading today as an NYSE-listed company.
Wolfspeed will now be able to leverage all of the advantages of membership in the NYSE community, comprising more than 2,400 of the world’s largest and most innovative companies.
These advantages include the Exchange’s unique market model, which combines cutting-edge technology with accountability and human judgment. Membership in the NYSE community also brings an unmatched network of CEOs and business leaders, the incomparable brand visibility that stems from an Exchange listing and core investor relations services.
For more than 30 years, Wolfspeed has demonstrated its unique expertise in shaping the future of semiconductor markets by delivering and leading commercial adoption of transformative technology solutions.
“We are pleased to join the NYSE, one of the world’s most prestigious trading platforms, as this transfer marks an important milestone for the company as a pure play global semiconductor powerhouse leading the industry transition from silicon to Silicon Carbide,” said Gregg Lowe, Chief Executive Officer, Wolfspeed. “Importantly, our company name change to Wolfspeed capitalizes on our 30-year heritage of working with Silicon Carbide and underscores our ambitious plans to compete and win in the rapidly expanding marketplace, which we believe will continue to provide long-term value for our customers and shareholders.”
“We are excited to welcome Wolfspeed as it transfers its listing to the NYSE and joins our community of icons and disruptors,” said John Tuttle, Vice Chairman and Chief Commercial Officer, NYSE Group. “We look forward to working with the company as it continues to transform the semiconductor market.”
Nearly 300 companies have switched their listings to the NYSE since 2000, representing more than $1 trillion in current market value.
About NYSE Group
NYSE Group is a subsidiary of Intercontinental Exchange (NYSE: ICE), a leading global provider of data, technology and market infrastructure. NYSE Group’s equity exchanges -- the New York Stock Exchange, NYSE American, NYSE Arca, NYSE Chicago and NYSE National -- trade more U.S. equity volume than any other exchange group. The NYSE is the premier global venue for capital raising. NYSE Arca Options and NYSE Amex Options are leading equity options exchanges. To learn more, visit nyse.com
About Intercontinental Exchange
Intercontinental Exchange, Inc.(NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
