{"id":7635,"date":"2024-12-16T21:08:30","date_gmt":"2024-12-16T21:08:30","guid":{"rendered":"https:\/\/demo5.dedicatedhost247.com\/zexo\/super-micro-slides-8-after-stock-is-dropped-from-nasdaq-100\/"},"modified":"2024-12-16T21:08:30","modified_gmt":"2024-12-16T21:08:30","slug":"super-micro-slides-8-after-stock-is-dropped-from-nasdaq-100","status":"publish","type":"post","link":"https:\/\/demo5.dedicatedhost247.com\/zexo\/super-micro-slides-8-after-stock-is-dropped-from-nasdaq-100\/","title":{"rendered":"Super Micro slides 8% after stock is dropped from Nasdaq 100"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108055705\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Super Micro Computer CEO Charles Liang appears the Computex conference in Taipei, Taiwan, on June 5, 2024.<\/p>\n<p>Annabelle Chih | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/SMCI\/\">Super Micro Computer<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> joined the <a href=\"https:\/\/www.nasdaq.com\/press-release\/super-micro-computer-inc-join-nasdaq-100-indexr-beginning-july-22-2024-2024-07-12\" target=\"_blank\" rel=\"noopener\">Nasdaq 100<\/a> in July. Five months later, it&#8217;s out, and the stock is down 8% on the news.<\/p>\n<p>Nasdaq said late Friday that Super Micro is being <a href=\"https:\/\/www.nasdaq.com\/press-release\/annual-changes-nasdaq-100-indexr-2024-12-13\" target=\"_blank\" rel=\"noopener\">removed from the index<\/a>, which is made up of the top 100 non-financial stocks on the Nasdaq and is the basis for the <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\"><a href=\"https:\/\/www.cnbc.com\/quotes\/QQQ\/\">Invesco QQQ Trust<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> exchange-traded fund, one of the most actively traded ETFs.<\/p>\n<p>The announcement is the latest in a roller coaster of a year for Super Micro, which rocketed to a record high of $118.81 in March, as demand soared for the company&#8217;s servers packed with artificial intelligence processors. The company&#8217;s market cap reached over $70 billion, high enough to merit <a href=\"https:\/\/www.cnbc.com\/2024\/03\/01\/super-micro-joining-sp-500-after-20-fold-jump-in-stock-in-two-years.html\">inclusion<\/a> in the S&amp;P 500.<\/p>\n<p>Super Micro is now worth about $20 billion, about a quarter the size of the median market cap of companies in the Nasdaq 100. Nasdaq will also remove <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-6\"><a href=\"https:\/\/www.cnbc.com\/quotes\/ILMN\/\">Illumina<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-7\"><a href=\"https:\/\/www.cnbc.com\/quotes\/MRNA\/\">Moderna<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> from the group, effective Dec. 23.<\/p>\n<p>The revision will make room for the additions of <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-8\"><a href=\"https:\/\/www.cnbc.com\/quotes\/AXON\/\">Axon Enterprise<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-9\"><a href=\"https:\/\/www.cnbc.com\/quotes\/PLTR\/\">Palantir Technologies<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, as well as <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-10\"><a href=\"https:\/\/www.cnbc.com\/quotes\/MSTR\/\">MicroStrategy<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, a company whose value is tied to its <a href=\"https:\/\/www.cnbc.com\/2024\/12\/13\/bitcoin-proxy-microstrategy-to-join-the-nasdaq-100-and-heavily-traded-qqq-etf.html\">billions of dollars worth of bitcoin<\/a> purchases. MicroStrategy shares have gained more than 500% so far this year and were flat in Monday&#8217;s trading.<\/p>\n<p>For Super Micro, the story started to turn in August, when the company said it <a href=\"https:\/\/www.cnbc.com\/2024\/08\/28\/super-micro-shares-fall-23percent-on-filing-delay-hindenburg-research-report.html\">wouldn&#8217;t file<\/a> its annual report with the SEC on time. Noted short seller Hindenburg Research then disclosed a short position in the company, and said in a report that it identified &#8220;fresh evidence of accounting manipulation.&#8221;<\/p>\n<p>In October, Ernst &amp; Young resigned as Super Micro&#8217;s auditor, resulting in a <a href=\"https:\/\/www.cnbc.com\/2024\/10\/31\/super-micros-50-billion-stock-collapse-underscores-risk-of-ai-hype.html\">33% stock plunge<\/a>. An independent special board committee evaluated concerns from Ernst &amp; Young and <a href=\"https:\/\/www.cnbc.com\/2024\/11\/06\/super-micro-shares-plummet-after-q4-update-raises-concerns.html\">found no misconduct<\/a> following a three-month investigation. The report recommended the company replace its CFO. The company said in November that BDO was its new auditor.<\/p>\n<p>Super Micro was at risk of being delisted from Nasdaq altogether for a second time because of its delayed financial reports, but two weeks ago it <a href=\"https:\/\/www.cnbc.com\/2024\/12\/06\/super-micro-gets-nasdaq-extension-can-file-financials-by-february.html\">received an extension<\/a> until February 2025.<\/p>\n<p>In a preliminary earnings report, the company said revenue for the third quarter was up 181% year over year, <a href=\"https:\/\/www.cnbc.com\/2024\/11\/06\/super-micro-shares-plummet-after-q4-update-raises-concerns.html\">below consensus<\/a>.<\/p>\n<p>&#8220;Competition is strong, but I believe we are in good position,&#8221; CEO Charlies Liang said during a November conference call with analysts. Rivals include Dell and HPE.<\/p>\n<p><strong>WATCH:<\/strong> <a href=\"https:\/\/www.cnbc.com\/video\/2024\/11\/18\/super-micro-appoints-bdo-as-independent-auditor.html\">Super Micro appoints BDO as independent auditor<\/a><\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108064713\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108064713\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000358341\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Super Micro Computer CEO Charles Liang appears the Computex conference in Taipei, Taiwan, on June 5, 2024. Annabelle Chih | Bloomberg | Getty Images Super Micro Computer joined the Nasdaq 100 in July. Five months later, it&#8217;s out, and the stock is down 8% on the news. Nasdaq said late Friday that Super Micro is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7636,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[46],"tags":[11519,1036,52,199,11523,1324,11520,4059,2818,5552,1357,2816,744,11521,1801,650,1966,11522,304],"jetpack_featured_media_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108055705-1730389067662-gettyimages-2155472599-TAIWAN_COMPUTEX.jpeg?v=1734374436&w=1920&h=1080","_links":{"self":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/posts\/7635"}],"collection":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/comments?post=7635"}],"version-history":[{"count":0,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/posts\/7635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/media\/7636"}],"wp:attachment":[{"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/media?parent=7635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/categories?post=7635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo5.dedicatedhost247.com\/zexo\/wp-json\/wp\/v2\/tags?post=7635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}