markets

Luke Kawa2/24/25

Super Micro tumbles as Tuesday’s file-or-be-delisted deadline looms

Super Micro Computer didn’t turn in its homework on time last August. Because of some extenuating circumstances — including its auditor resigning, questioning the company’s commitment to integrity and ethical values — its deadline to file its annual report was extended to February 25, or else the company would face delisting from the Nasdaq exchange.

That’s tomorrow. The paperwork, which management “believes” will be done on time and “continues to work diligently” toward completing, is yet to be filed.

This overhang didn’t stop the stock from going on a ridiculous run to more than double at one point this month. The server company laid out an aggressive medium-term sales forecast, with management looking to hitch its wagon to rocketing demand for Nvidia’s GPUs.

But shares are down nearly 20% from its intraday peak on Wednesday, which gave way to a swift bout of profit-taking in the final hour of the day and a subsequent drawdown along with the broader market.

Reassuring commentary surrounding the filing of this paperwork has also been a big boon for the stock.

If it turns out the dogs have eaten Super Micro’s homework yet again, the bears will probably feast on its shares thereafter.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

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."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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