Super Micro Computer was down 10.8% on Friday. The past week has been a topsy-turvy one with the stock gaining 16% on Monday, falling 10% on Tuesday, and rising 1.9% on Wednesday. The big moves in the shares come amid the ongoing threat of Super Micro being delisted from the Nasdaq.
GameStop, Trump Media, and now Super Micro Computer.
The server maker has become the latest red-hot day trade this month. The shares have swung wildly as the company battles to avoid being delisted from the Nasdaq.
That volatility made it the latest member of an exclusive club: The stocks that have led the S&P 500 one day and were the benchmark index's worst performer the next. The engineering contractor Amentum Holdings is the only other name that has achieved that feat this year, although five others have done it the other way round, going from biggest loser to biggest winner.
That isn't the only eyebrow-raising statistic. Super Micro shares have moved by 10% in either direction on 10 of this month's 19 trading days, according to Dow Jones Market Data.
It has been a good stretch overall, though. The stock is up 21% since Nov. 1, putting it on pace for its best month since February, when it gained 64% amid the artificial intelligence investing frenzy. But despite the recovery, shares are still trading 70% below the record high they hit in March.
While the server maker's efforts to avoid being delisted for failing to file its financial reports on time are a step in the right direction, risks remain. Independent auditor BDO is reviewing the company's financials after Ernst & Young resigned from the role, which could lead to further delays and missed filing deadlines. Shares will likely remain volatile until the situation is resolved.