Super Micro Computer Inc. stock have started the week trading in positive territory.
Shares trading under the ticker SMCI were up 0.6% at $42.37 in premarket trading Monday while futures tracking the Nasdaq 100 were down 0.3%.
It was an outlier last week rising 10% while the S&P 500 fell 2.3% and the tech-heavy Nasdaq Composite dropped 2.4%.
However, during the swift S&P 500 correction, defined as a 10% or more drop from its recent peak on Feb. 19, the artificial intelligence server maker had fallen 35% during that period to Friday's close, due to several double digit drops at the end of February and early March.
The stock has been on a roller-coaster ride for the past year, going from being an AI market darling and scoring a record closing high of $118 a year ago, to plunging to $18 in November amid investors' concerns about its accounting practices and its auditor surprise exit in October.
Super Micro stock has since then recovered partially and filed its delayed accounts, thereby avoiding the threat of delisting from the Nasdaq exchange and lifting its stock. The company had also said an independent investigation found no evidence of misconduct and appointed a new auditor.
Shares are up 38% so far this year.
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