Supermicro CEO Charles Liang attended the Computex conference held in Taipei, Taiwan on June 5, 2024.
Annabelle Chi | Bloomberg | Getty Images
super microcomputer Joined Nasdaq 100 Index July. The news came five months later, sending the company’s stock price down 7%.
Nasdaq said late Friday that AMD is Remove from indexconsisting of the top 100 non-financial stocks on Nasdaq, is Invesco QQQ Trust Exchange-traded funds, one of the most actively traded ETFs.
The news is the latest in a roller-coaster year for Advanced Micro Devices. With a market capitalization of over $70 billion, the company is worth inclusive in the S&P 500 Index.
Super Micro’s current market capitalization is about $20 billion, about a quarter of the median market capitalization of Nasdaq 100 companies. lighting company and modern from the group, effective December 23.
This revision will make room for additional content Axon Enterprises and Palantir Technologyalso micro strategya company whose value is equal to Billions of Dollars in Bitcoin Buy. MicroStrategy shares are up nearly 600% so far this year, rising 4% on Monday.
For AMD, the story began to turn in August, when the company said Will not archive Submit annual reports to the SEC on time. Prominent short seller Hindenburg Research later disclosed the company’s short position, saying in a report that it had found “new evidence of accounting manipulation.”
In October, Ernst & Young resigned as auditor of Super Micro, resulting in Share price plummeted 33%. An independent special board committee assessed Ernst & Young’s concerns and No wrongdoing found After three months of investigation. The report recommended that the company replace its chief financial officer. The company said in November that BDO was its new auditor.
Super Micro is facing the risk of complete delisting from Nasdaq for the second time due to delays in announcing earnings, but two weeks ago received an extension Until February 2025.
The company said in its preliminary financial report that third-quarter revenue increased 181% year-on-year. below consensus.
“Competition is fierce, but I believe we are in a good position,” Chief Executive Charlie Liang said on a conference call with analysts in November. Competitors include Dell and Hewlett Packard Enterprise.
