Why Super Micro Computer Stock Is Crashing Today
Super Micro Computer (NASDAQ: SMCI) has had a turbulent year. After facing accounting questions, replacing its auditor, and avoiding the de-listing of its shares, the maker of high-end, liquid-cooled artificial intelligence (AI) servers seemed to be back on track this year.
A business update provided by the company yesterday, however, says otherwise. Investors are dumping Supermicro shares today as a result. The stock crashed by as much as 20% Wednesday morning. As of 11:30 a.m. ET, shares remained below yesterday's close by about 16%, and more than 50% off recent highs.
After delays in required Securities and Exchange Commission (SEC) filings, Supermicro regained compliance in February and avoided the de-listing of its shares from the Nasdaq stock exchange. At the time, the company also lowered revenue guidance for its fiscal 2025 third quarter, ended March 31, and for the full year. Investors reacted positively, though, as Supermicro seemed to be back on track and could begin refocusing on its business.
Source Fool.com
