Super Micro Computer stock: 2 reasons why SMCI is surging this week as its latest delisting deadline nears
Shares in Super Micro Computer, Inc. (Nasdaq: SMCI) are once again rising in premarket trading this morning. As of the time of this writing, SMCI stock is up over 6% to $59.25 per share. That rise is in addition to the more than 16% rise in the stock yesterday.
When looking back year-to-date, Super Micro Computer (aka Supermicro) has seen shares rise over 83% as of yesterday’s close. It is now at highs not seen since late August when a spate of bad news, including alleged accounting issues, kicked off a monthslong drop in the stock’s price.
The turnaround in SMCI’s stock price fortunes has been especially evident over the past five days. During that time, SMCI shares were up over 30% as of yesterday’s close. But why? There are two likely reasons:
One of the problems that have rattled Supermicro investors is company’s delayed filing of its Form 10-K with the Securities and Exchange Commission (SEC). The form should have been filed last year, and if Supermicro........
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