Why Super Micro Computer Stock Is Plummeting Today
Super Micro Computer (NASDAQ: SMCI) stock is seeing a big pullback in Thursday's trading. The company's share price was down 12% as of 2 p.m. ET amid flat trading for the S 500 index and a 0.6% decline for the Nasdaq Composite.
Supermicro stock is losing ground today in conjunction with broader pullbacks for tech stocks. The company's share price is heading lower following recent analyst coverage, and Nvidia's recent Q4 report may also be weighing on the stock.
Supermicro's valuation rocketed higher yesterday after the company submitted its delayed 10-K filing to the Securities and Exchange Commission (SEC) and closed the door on concerns the stock would be delisted from the Nasdaq stock exchange. But investors are taking profits on the heels of yesterday's pop and also reducing exposure to AI stocks after Nvidia's Q4 report yesterday.
Source Fool.com
