Why Super Miro Computer Stock Is Plummeting Today
Super Micro Computer (NASDAQ: SMCI) stock is getting pummeled in Friday's trading following news that seriously threatens the company's outlook. The server specialist's share price was down 28.2% as of 1:05 p.m. ET and had been down as much as 29% earlier in the session.
The stock market is seeing broad bearish momentum today as investors weigh risks connected to the war with Iran and inflation, but Supermicro's sell-off is primarily being driven by some concerning business-specific news. The U.S. Justice Department announced yesterday that it had charged three people connected to the company with aiding in the illegal smuggling of U.S.-originated artificial intelligence (AI) technologies to China.
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Source Fool.com
