Why Super Micro Computer Stock Plunged Today
Super Micro Computer (NASDAQ: SMCI) shares soared along with other technology names yesterday after President Donald Trump paused the implementation of his global tariff plan. There was good reason why Supermicro shares outperformed the market with a 15.8% gain on that news.
But Supermicro stock is shedding much of that pop today. As of 11:19 a.m. ET, shares of the maker of high-end, liquid-cooled artificial intelligence (AI) servers were down by 5.9% after dropping more than 7% earlier in the session.
Supermicro has had its share of problems in the last year as it faced accounting questions and the risk of delisted shares. The stock jumped earlier this year, though, after the company released long-delayed financial filings and avoided being delisted from the Nasdaq exchange. Shares have since stabilized as investors wait for updates on the state of its business.
Source Fool.com
