SMCI: What's Going on Next?
$SUPER MICRO COMPUTER INC(SMCI)$
Here’s what I see: the zero interest convertible offering for shares were priced at around $935, that’s 1.5384 million shares worth… Approx..
The 2 million shares are at $875, so that’s 3.538 million shares diluted. Sherman Tuan sold 5,000 shares around $865 in Feb., so that’s a little more, and Russell 2000 funds sold shares above $1,000…
Sherman Tuan has been on the board of directors for 17 years and also voted for this 1.75 billion dollar capital raise the 2 million shares brings in.
So the % of dilution is past 6.5%folks and the company thinks SMCI is overvalued between $865-935. These are the facts, swallow it any way you like, but the pressure from this is downward and certainly not $1,350 any time soon, perhaps next year, and each quarter earnings will shed light.
Good luck, you should not buy this stock above $800.00....[Smug][Smug][Smug]
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