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Super Micro Stock Bucks Broader Tech Weakness Wednesday:Retail Positions For Short-Squeeze
Shares of artificial intelligence server manufacturer Super Micro, Inc. ( $Super Micro Computer (SMCI.US)$ ) continued their volatile run, and on Wednesday, the stock bucked the broader market downturn and traded firmly in positive territory.
As of 1:56 p.m. ET, Super Micro stock climbed 2.09% to $35.15, although on below-average volume, potentially due to typical thin pre-holiday trade. Incidentally, the Invesco QQQ Trust ( $Invesco QQQ Trust (QQQ.US)$ ), an exchange-traded fund that tracks the Nasdaq 100 Index, was down about 0.80% due to a sell-off in the semiconductor space.
After delisting fears abated, Super Micro shares were on the mend, moving from a bottom of $17.25 on Nov. 15 to as high as $39.23 this Monday.
On Wednesday, the stock may have received a shot in the arm from twin catalysts. Computer and peripherals manufacturer Dell Technologies, Inc.’s ( $Dell Technologies (DELL.US)$ ) third-quarter results showed AI sever sale was strong at $2.9 billion, with orders at a record of $3.6 billion.
This in turn is positive for Super Micro, which counts Nvidia Corp. ( $NVIDIA (NVDA.US)$ ) among its customers.
Also, in a 8-K filing with the SEC on Tuesday, Super Micro said it prepaid in full and closed out loans agreements with Cathay Bank and Bank of America on Nov.20. The filing, however, was scant in details and did not reveal the terms of the prepayment or the reasons thereof.
The Wimi Hologram Cloud Inc Adr stock price gained 4.23% on the last trading day (Wednesday, 27th Nov 2024)
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reserved Flamingo_92 : Talking is useless, this year, employees at S M C i warehouse have lost both their overtime pay and bonus for the Thanksgiving dinner. They work hard to support their families, hoping for a little extra income every year. This year, everyone is very disappointed and disheartened at work.
kheldarX reserved Flamingo_92 : why no bonus and OT pay?
Mrstocksplitsundae kheldarX : Flamingo is a illiterate liar.... that I'd all..