Supermicro CEO Charles Liang attended the Computex conference held in Taipei, Taiwan on June 5, 2024.
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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. The company’s market capitalization exceeds $70 billion, enough to rank 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’s value is tied to its Bitcoin purchases worth billions of dollars. MicroStrategy shares are up nearly 600% so far this year, rising 4% on Monday.
For AMD, the story began to take a turn in August, when the company said it would not file its annual report with the Securities and Exchange Commission 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 Super Micro’s auditor, causing the company’s stock price to plummet 33%. An independent special board committee assessed EY’s concerns and found no wrongdoing after a three-month 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 faced the risk of being completely delisted from Nasdaq for the second time due to delays in releasing financial reports, but two weeks ago it received an extension to February 2025.
The company said in a preliminary earnings report that third-quarter revenue rose 181% annually, below market expectations.
“Competition is fierce, but I believe we are in a good position,” Chief Executive Charles Leong said on a conference call with analysts in November. Competitors include Dell and Hewlett Packard Enterprise.
watch: Super Micro appoints BDO as independent auditor
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