Wolfspeed Inc. soared to a fresh all-time high on Tuesday, extending its winning streak to a sixth straight session as the wolf stock climbed as high as $53.98 before closing at $53.72, up 6.78 percent.

The move came after investors kept buying in the wake of improved third-quarter results for fiscal 2026, even though the company’s revenue still fell year on year. Wolfspeed said net losses narrowed 58 percent in the three months ending March 2026 to $119.9 million from $285.5 million a year earlier, while revenue dropped 18.9 percent to $150.2 million from $185.4 million. The sales figure stayed within the company’s earlier forecast of $140 million to $160 million.

Chief Executive Robert Feurle said Wolfspeed continued to make meaningful progress against its priorities, pointing to a better long-term growth trajectory and more financial flexibility to carry out strategic plans. The stock surge suggests traders are giving more weight to that progress than to the still-shrinking top line.

That balance is likely to be tested again in the fourth quarter ending June 2026, when Wolfspeed expects revenue of $140 million to $160 million, which would be 18.8 percent to 29 percent lower than the $197 million posted in the same period last year. Operating expenses are expected to hold steady from the prior quarter, but gross margins are still projected to remain negative, leaving the company with work to do even after a sharp recovery in its share price.