markets

Luke Kawa2/25/25

Super Micro surges after meeting deadline to avoid being delisted from the Nasdaq at the last minute

Well, better extremely late than never.

Super Micro Computer is going bonkers in after-hours trading after the company filed the necessary reports to avoid being delisted from the Nasdaq. The deadline was today.

Shares had closed down double digits at $45.54, but proceeded to erase those losses and trade above $54 at one point after the filing landed.

Up next, management has the task of hitting their ambitious $40 billion sales mark for Super Micro’s next fiscal year. Perhaps getting servers that use Nvidia’s GPUs out the door and into data centers may prove easier than staying up to date with reliable financials.

Per one filing (emphasis added):

“We have concluded that our internal control over financial reporting was not effective as of June 30, 2024 due to the existence of material weaknesses in such controls as described above. As of the date hereof, we have not remediated any of those material weaknesses.”

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SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

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