Recently the stock that used to trade under the ticker CREE made a switch — and saw a healthy jump in their stock price. Is it a coincidence that the former CREE, now Wolfspeed trading as WOLF, outperformed the market after it changed?
Probably not, according to Michael Cooper, Professor of Finance. A name like CREE carries no meaning, while WOLF has instant recognition and carries positive associations for attributes investors might like to see in their companies.
Read more about the phenomenon at MarketWatch.