Why Super Micro Computer Stock Popped Monday
Super Micro Computer (NASDAQ: SMCI) stock has been under pressure for the last several months. But an update from the company had shares soaring today. Investors have been concerned about dropping profit margins, questions about accounting practices, and the delay in Supermicro filing its 10-K annual report. However, the company says sales are still robust.
Those issues have sent the stock down by 44% over the past three months. That said, today's update helped move shares higher by as much as nearly 18%. As of 12:30 p.m. ET, Supermicro stock was still up by 13.8%.
Source Fool.com
