Pay down debt = shares buyback
Just fyi, paying down debt is the equivalent of a shares buyback in accounting terms. Both are signs of balance sheet strength, bullish stance and increases shareholder value.
If SMCI is to be delisted, they should instead borrow more due to less shares capital. But they are paying down debt, which means they are sitting on a mountain of cash at the moment.
SMCI might announce a dividend or be bought over by someone taking advantage of its current share price (delist but at a premium).
Maybe Elon Musk or Jensen should buy SMCI for vertical integration.
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ShyFish_ : Hmm, have you considered they were forced by lenders to repay debt?
bentanstone : Super Micro Computer (SMCI) Terminates Its Loan Agreements With Cathay Bank And The Bank Of America, Eliminating The Need To Furnish Its Financial Statements By The End Of 2024 Under The Loan Covenants
bentanstone : FYI, smci is forced to pay back instead of volunteering themselves due to T&C of the loan