SMCI Stock Drops On Results Deadline Day. Super Micro Faces Nasdaq Delisting
Super Micro Computer Inc. stock was falling on a crucial day for the artificial-intelligence server maker.
The Nasdaq set Tuesday as the deadline for the company to file its already delayed financials for the full fiscal year ended June 30 and the three months ended Sept. 30. If it doesn't comply, it faces the risk of delisting from the exchange.
In an update to investors on Feb. 11 Super Micro said it is working "diligently" to meet this deadline.
The stock, which trades under the ticker SMCI, was down 4.9% to $49.07 in early trading Tuesday. It fell 8% Monday, bringing it into the red for the past five days. Shares are still up nearly 70% since the start of the year.
The stock, once a market AI darling, became S&P 500's most volatile last year after its auditor's surprise exit and questions around its accounting practices weighed on shares.
Super Micro has said that an investigation found no evidence of fraud or misconduct, it appointed a new auditor, and guided for $40 billion revenue in 2026 -- all of which has helped the stock to bounce back from a low point of $18 in November last year, up 187% since.
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