Cree, Inc. [NASDAQ: CREE] disclosed that it has decided to start trading on New York Stock Exchange. The firm will shift the listing of its common stock to the New York Stock Exchange (NYSE) from The Nasdaq Global Select Market. CREE will commence trading on NYSE under the new symbol “WOLF”.
It has been disclosed that the firm will continue to trade its common stock on the Nasdaq until the close of the market on October 1, 2021. As earlier announced, the firm will also change its corporate name from Cree, Inc. to Wolfspeed, Inc. The new decision will come into action from October 4, 2021.
Furthermore, Cree will organize an Investor Day on the morning of Wednesday, November 17, 2021, at the New York Stock Exchange in New York City. Cree | Wolfspeed CEO Gregg Lowe, CFO Neill Reynolds, and other members of the senior management team will talk about the progress on its change strategy and share more detail about its long-term outlook of the firm.
Additionally, Cree revealed that the transfer from Nasdaq to NYSE and the change of its name is part of its transformational journey as a pure-play global semiconductor powerhouse leading the industry transition from silicon-to-Silicon Carbide. Moreover, its name changes to Wolfspeed take advantage of its 30-year heritage of working with Silicon Carbide.
The new phase in which the firm is going to step foot highlights its ambitious plans to compete and win in the rapidly growing marketplace, which it believes will continue to offer long-term value for its customers and shareholders.