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Super Micro Stock Soars On Nasdaq Compliance, But Can The Rally Hold?
Benzingaยท 2025-02-26 14:08
Group 1 - Super Micro Computer Inc. has regained compliance with Nasdaq's filing requirements, leading to a significant stock price increase of over 26% in premarket trading [1][5] - The company's stock has experienced a year-to-date increase of 51.55%, but has seen a recent decline of 22.64% over the past five days, indicating potential selling pressure [1][6] - Super Micro's sales more than doubled to $14.99 billion in fiscal 2024, driven by high demand for Nvidia's graphics processing units [5] Group 2 - The company submitted its delayed financial results for fiscal 2024 and the first half of fiscal 2025, which were confirmed by a new audit from BDO, although governance issues were flagged [4][6] - Technical indicators suggest resistance levels at the eight-day simple moving average of $50.28 and the 200-day simple moving average of $52.75, while support is indicated at $41.88 and $36.24 [2] - The Moving Average Convergence Divergence (MACD) indicator is at 5.80, indicating a bullish trend, but the Relative Strength Index (RSI) of 63.50 suggests the stock may be overbought [3]