Why Super Micro Computer Stock Triumphed on Thursday
Super Micro Computer (NASDAQ: SMCI) is expanding, at least in terms of its retail footprint. Typically, when a company ponies up to buy more property, it means it's preparing for an upswing in business.
That's the way the market seemed to take the news on Thursday, as they pushed up Super Micro's stock by more than 10% on the day. That figure was well above the 1.3% increase of the S&P 500 index.
In a regulatory filing, Super Micro divulged that it formally entered into an agreement to buy nearly 20 acres of land and almost 294,000 square feet of buildings and improvements near its Silicon Valley headquarters. The specialty tech company is to pay $80 million for this real estate from its counterparty, Caracol Property Owner, subject to certain adjustments that it didn't specify.
Source Fool.com
