Why Super Micro Computer Stock Was Soaring Today
Shares of Super Micro Computer (NASDAQ: SMCI) were surging today as investors awaited a plan from the company to stay in compliance with the Nasdaq and maintain its listing.
Following a delay in its 10-K filing, the Nasdaq told Supermicro in September that it was out of compliance with its standards and that it had two months to file the annual report or submit a plan to get back in compliance.
That deadline is expiring today, but investors were optimistic that it would submit a plan after Barron's reported on Friday that it was on track to do so. As of 2:13 p.m. ET, the stock was up 23.4% on the news, though it had not yet submitted a plan.
Source Fool.com
