Wolfspeed plans to file for bankruptcy, Apollo Global Management to take over

According to foreign media reports, Wolfspeed, a leading silicon carbide material manufacturer, plans to file for bankruptcy, and Apollo Global Management will take over the company. Wolfspeed's stock price plummeted 30.14%, and has fallen 86.89% since the beginning of the year. Wolfspeed plans to enter bankruptcy proceedings for a short period of time, and creditors such as Apollo will take over Wolfspeed, which will be enough to cut billions of dollars in debt.