Wolfspeed [WOLF] - Last Close: $56.74
Wolfspeed just landed a major supply deal.
This morning, the chip firm said it secured a 10-year deal to supply silicon carbide wafers to Renesas Elctronics Corp. [RNECY].
Under the deal, Wolfspeed will supply high-quality 150 mm silicon carbide bare and epitaxial wafers to Renesas, who expects to begin producing chips in 2025.
The deal also included a $2 billion upfront payment to Wolfspeed, and its production capacity is expected to increase ten-fold under the arrangement.
WOLF is up 16.3% in the wake of the breaking news.
My Take: TSLA is on fire lately. This stock has been going straight up for weeks, aside from a brief pullback a couple of weeks ago. I am bullish.
Impel Pharmaceuticals [IMPL] - Last Close: $1.25
Impel Pharma is on the rise after landing a crucial patent.
On Tuesday, the pharma firm announced it had been granted U.S. Patent for a potential Alzheimer's treatment.
The patent is titled: Respiratory tract delivery of levodopa and DOPA decarboxylase inhibitor for treatment of Parkinson's disease.
The company has yet to release an official statement on the patent, but the market is already reacting to the news.
Shares of IMPL are up 36.3% in Wednesday's premarket.
My Take: Any news pertaining to an Alzheimer's treatment can create a big buzz around a stock, and IMPL is basking in the wave of positive sentiment right now. However, I'm not confident this rally will last, so watch your six.
