BUZZ-Super Micro plunges on exclusion from Nasdaq 100

Reuters2024-12-16

** Shares of AI server maker Super Micro Computer plunge ~13% to $31.95 premarket

** Stock to be removed from Nasdaq 100 index

** SMCI earlier this month received a deadline of Feb. 25 from Nasdaq to file its delayed annual and quarterly reports, in an exception to the stock exchange's rules

** SMCI has tumbled from AI-driven peak following a recent auditing scandal

** CEO Charles Liang last week said he was confident the stock will not be delisted from Nasdaq

** Average rating of 12 brokerages on SMCI is a "hold", median PT is $32.56 - LSEG data

** Up to last close, stock had risen 28.2% YTD

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))

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