$Super Micro Computer (SMCI.US)$ shares surged 11.04% in overnight trading after announcing receipt of extension from Nasdaq.
The company got a letter from Nasdaq saying they've been given a break until February 25, 2025. This means they have more time to submit their financial reports for the year ending June 30, 2024, and the quarter ending September 30, 2024, which they were late on. Their stock will stay on the Nasdaq Global Select Market while they get this done. If they manage to file all the necessary reports by the deadline, their stock will keep being listed, as long as they follow all of Nasdaq's rules.
