Why Super Micro Computer Stock Sank This Week
Super Micro Computer (NASDAQ: SMCI) stock lost ground over the last week of trading. The server company's share price ended the period down 17% from last week's market close, according to data from S&P Global Market Intelligence.
Supermicro stock fell this week following bearish coverage from analysts at . Despite assurances that the stock is on track to avoid being delisted, investors also continued to weigh the risk that the company's shares could be removed from the exchange.
JPMorgan published new coverage on Supermicro on Dec. 10, maintaining an underweight rating on the stock. The firm maintained a one-year price target of $23 per share. Even after a big sell-off this week, JPMorgan's price target implies additional downside of roughly 37%.
Source Fool.com
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