Supermicro (SMCI) shares pop after its delayed financial filings. The company is now compliant with Nasdaq requirements, and Kevin Green dives into SMCI's future.
Super Micro Computer was poised to be one of the better-performing semiconductor plays of last year. Then, in August, now-defunct short-selling activist group Hindenburg Research released a scathing report, which alleged widespread accounting malpractice at the company.
Yesterday's 10-K release acted as an inflection point for Super Micro Computer, dismissing the many fears that had been factored into its stock valuation. Valuation is extremely attractive with a significant upside potential, supported by low P/E and forward P/S ratios and optimistic free cash flow growth assumptions. SMCI's innovative server and storage solutions, strong partnerships with Nvidia, AMD, Intel, and Broadcom, and aggressive revenue growth highlight its competitive edge.
The AI server maker filed its long-awaited financial accounts late Tuesday, removing the threat of delisting from the Nasdaq.
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CNBC's Kristina Partsinevelos joins 'Fast Money' with the latest on Super Micro Computer's 10-K filing.
Super Micro Computer (SMCI) shares rocketed higher after the company submitted its delayed financial reports late Tuesday, just beating its deadline to avoid being delisted by the Nasdaq.
Super Micro shares are surging in Tuesday's late trading, though they fell sharply in the regular session.
Today, February 25, is a make-or-break day for Super Micro Computer (aka Supermicro) and its stock, which trades on the Nasdaq under the SMCI ticker. That's because by the end of today, the beleaguered server company needs to file its delinquent Form 10-K with the U.S. Securities and Exchange Commission (SEC).
Super Micro Computer shares fell as much as 10% during trading on Tuesday as the company nears a deadline to file audited financial reports or be delisted from the Nasdaq exchange. Earlier this month, Super Micro CEO Charles Liang told investors that he was "confident" that the company could file those reports by Feb. 25, a deadline set by Nasdaq.
Super Micro Computer (SMCI -9.89%) stock is getting hit with big sell-offs in Tuesday's trading. The server specialist's share price was down 7.6% as of 1:30 p.m.
Super Micro Computer (SMCI) faces its next obstacle on Tuesday, with the server maker facing the Nasdaq's filing deadline to avoid being delisted from the exchange.