Super Micro Computer, Inc. (NASDAQ:SMCI) stock is trading lower on Monday. The company is expected to be removed from the Nasdaq 100 Index later this month. Here's what you need to know.

What To Know: Super Micro is one of three companies set to be booted from the Nasdaq 100 Index on Dec. 23 as part of the index's annual changes.

The changes will take effect before the market opens on Dec. 23. The other companies set to be removed from the index, include Illumina, Inc. (NASDAQ:ILMN) and Moderna, Inc. (NASDAQ:MRNA).

The Nasdaq is set to add Palantir Technologies Inc. (NASDAQ:PLTR), MicroStrategy Inc. (NASDAQ:MSTR) and Axon Enterprise, Inc. (NASDAQ:AXON) to the index.

What Else: Super Micro has faced delays in filing its earnings for the 2024 fiscal year as well as the first quarter of the 2025 fiscal year. The company originally cited multiple reasons for the delay, including the need to find a new auditor after Ernst & Young, the company's former auditor, resigned due to governance control issues, and the need to review its internal control systems.

Super Micro has since appointed BDO USA as its independent auditor. In addition, the company's special committee review found no evidence of misconduct.

Lastly, the company is working with Evercore to raise its capital. The company is considering multiple options in order to achieve this, such as, a private investment in public equity.

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SMCI Price Action: At the time of writing, Super Micro stock is trading 6.75% lower at $33.98, according to data from Benzinga Pro.

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