SMCI 'just too important a player' in AI space to be delisted, says analyst
Investing.com -- Super Micro Computer Inc shares rocketed more than 23% in premarket trading Tuesday after the AI server maker surprisingly introduced an independent audit firm at the last minute and submitted a compliance plan to NASDAQ.The move could potentially avert the company’s delisting, though NASDAQ still needs to formally approve the plan and grant an extension for the filing of its 10-K.Still, an analyst at Lynx Equity Strategies views this approval as likely to be "just a formality.". In an earlier note, Lynx analyst KC Rajkumar stressed that SMCI is "just too important a player in the AI data center space for it to be allowed to delist and go fallow.". “While we claimed no knowledge of the timing of regulatory filing, we opined that delisting, leading to loss of access to capital, was a low probability event,” he added.He also noted the stock was trading at a significant discount and set a price target of $45.Following the filing of an 8-K form last night, which signific