Why Super Micro Computer Stock Jumped 17% in March
Shares of Super Micro Computer (NASDAQ: SMCI) were climbing again last month as the company, best known for making AI servers, was added to the S&P 500. According to data from S&P Global Market Intelligence, Supermicro stock rose 17% last month.
Admission to the broad-market index caps off a dramatic run for Supermicro, as the company is also known, and the stock has gained nearly 1,000% since the start of 2023 after it emerged as a winner in the generative AI boom.
As you can see from the chart, the stock jumped early in the month on the S&P 500 news before giving up much of those gains and then rebounding to close out the end of March.
Source Fool.com
