🚨 $SUPER MICRO COMPUTER INC(SMCI)$
$SUPER MICRO COMPUTER INC(SMCI)$ is in hot water as fears of a potential delisting from the Nasdaq 100 grow. Despite CEO Charles Liang's confidence shares won’t get delisted from the tech-heavy index, when he spoke to reporters on the sidelines of the Reuters NEXT event in New York Tuesday. The company was recently granted an extension to file its delayed annual and quarterly reports by Feb. 25, avoiding the immediate threat of delisting. Liang also said these would be filed by the new deadline.
However, the market isn't convinced yet sending shares down another 4% today. After a 50% plunge post-auditor exit, analysts are now split—will Super Micro recover, or is more trouble ahead? 🤔💥
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So, then, what explains the retracement from 44-46 to 37-38 yesterdayday? I think it has to do with the CPI release today at 8.30am est. All major indexes (NASDAQ, SNP, DJI) and the majority of tech/ai stocks fell yesterday. The whole world is watching if CPI will increase by 0.1% as expected and impact FED's decision to continue cut interest rates by 0.25% next week.
Don let the price tempting you! Doesn’t mean price up is a good sign, people can stir up the stock market.