Stock Track | Super Micro Plunges 5% Pre-Market as Optimism over Nasdaq Listing Plan Fades

Stock Track11-20 22:33

Super Micro Computer Inc. (SMCI) shares plummeted 5.09% in pre-market trading on Wednesday, giving back some of the gains from the previous two sessions when the stock surged on the company's plan to avoid delisting from the Nasdaq.

The server and storage solutions provider saw its stock soar over 30% on Monday and Tuesday after revealing it has hired a new auditor, BDO USA, and submitted a plan to Nasdaq for an extension to regain compliance with listing requirements. SMCI has been late in filing its annual report for the fiscal year ended June 30 and quarterly report for the period ended September 30, putting it at risk of delisting.

While the plan to stay listed initially boosted investor confidence, concerns linger about whether Super Micro can successfully resolve its accounting issues, secure Nasdaq's approval, and make the necessary filings on time. Analysts have adopted a cautious stance, highlighting the need for SMCI to prove its financial strength amid challenges like supply chain constraints with Nvidia chips that led to a recent lowering of revenue guidance.

High volatility is expected to persist for Super Micro's stock as the company navigates these uncertainties. Options activity implies the stock could fluctuate around 14% in either direction over the coming weeks, reflecting traders' bets on significant price swings.

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(SMCI) shares plummeted 5.09% in pre-market trading on Wednesday, giving back some of the gains from the previous two sessions when the stock surged on the company's plan to ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SMCI","symbol_name":"超微电脑","start_time":0,"source_url":"","article_id":"1188037398","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1188037398","pubTimestamp":1732113236,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Super Micro Computer Inc.  shares plummeted 5.09% in pre-market trading on Wednesday, giving back some of the gains from the previous two sessions when the stock surged on the company's plan to avoid delisting from the Nasdaq.The server and storage solutions provider saw its stock soar over 30% on Monday and Tuesday after revealing it has hired a new auditor, BDO USA, and submitted a plan to Nasdaq for an extension to regain compliance with listing requirements. 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