Wolfspeed's Golden Cross Ignites — Turning Israel Englander's $2 Shares Into 1,299% Moonshot

Wolfspeed (NYSE:WOLF) just sparked a textbook technical rally. Its 50-day moving average ($6.20) has surged past the 200-day ($4.43) in a classic Golden Cross, signaling strong bullish momentum — and billionaire Israel Englander is laughing all the way to the bank.

WOLF stock is at important technical levels. Find out why here.

Englander's hedge fund, Millennium Management, bought shares at an average of $2.18, and with Wolfspeed now hovering around $30, that $1.77 million position has ballooned a staggering 1,299%, turning a small bet into a moonshot-worthy windfall.

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Chart created using Benzinga Pro

Technical Sparks Fly With WOLF Golden Cross

Momentum traders are circling Wolfspeed like moths to a flame. The stock's eight-day SMA ($27.64) has soared well above the 20- and 50-day averages, MACD (moving average convergence/divergence) sits at 7.73, and RSI (relative strength index) is a sizzling 87, signaling robust buying pressure.

Thursday's mid-morning spike alone added 15%, part of a 39% weekly surge and an eye-popping 1,821% rally over the past month.

Positive volume and strong momentum indicators suggest Wolfspeed isn't just flashing — it's firing on all cylinders.

Billionaire Conviction Meets Market Mechanics

Englander's timing couldn't look better. While Wolfspeed's fundamentals are stabilizing post-restructuring, the mechanical effects of share cancellation and debt reduction have dramatically reduced the float, magnifying price movements. Englander's early entry at $2 per share means he's captured almost every twist of this post-bankruptcy rebound. Momentum traders now have a clear signal: when a golden cross aligns with billionaire conviction, it's hard not to sit up and take notice.

Momentum and Moonshots

Wolfspeed's golden cross isn't just a chart pattern — it's a statement. Between a leaner share float, technical momentum and a billionaire's timing proving flawless, this is a classic "don't fight the tape" scenario. Short-term traders may watch for RSI-driven consolidation, but one thing is clear: for Englander, the $2 buy has already become a 1,299% moonshot — and momentum traders are hoping to catch the sparks.

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