Why Super Micro Computer Gained 35.4% in February
Shares of server company Super Micro Computer (NASDAQ: SMCI) rose 35.4% in February, according to data provided by S&P Global Market Intelligence.
Super Micro stock was the rare 2022 winner in the tech space, nearly doubling in a year when the Nasdaq fell over 30%. In January, the stock became the target of a short report from activist short-seller Spruce Point Capital, which caused the stock to sell off as investors booked gains and shorts piled in.
However, Super Micro reported solid results on Jan. 31 after market close, and the stock regained its footing through February. Moreover, Super Micro is a close partner of Nvidia, which reported better-than-expected results and gave a positive outlook on artificial intelligence (AI) server demand.
Source Fool.com
