Shares of 🐺WOLF🐺 are trading 31% higher on great earnings today

Shares of Wolfspeed Inc (WOLF) are trading 31% higher at a price of $112.185 at the time of this writing. While it's a mildly positive day for the Information Technology sector in general, the stock is outrunning it's peers.

The company just reported a great earnings report with both an:
EPS GAAP beat - $0.26 (Beat by $0.84)
Revenue beat -  $228.50M (Beat by $20.92M)

Wolfspeed Inc has been trading between a 52-week high of $142.33 and a 52-week low of $58.07. The stock has a market cap of $13.9 Billion.

Cree is an innovator of Wolfspeed® power and radio frequency (RF) semiconductors and lighting class LEDs. Cree's Wolfspeed product families include silicon carbide materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging inverters, power supplies, telecom and military and aerospace. Cree's LED product families include blue and green LED chips, high-brightness LEDs and lighting-class power LEDs targeted for indoor and outdoor lighting, video displays, transportation and specialty lighting applications.