Supermicro Stock Jumps 12% Friday to Cap Off a Wild Week

Super Micro Computer (SMCI) shares surged 12% Friday to cap off a wild week that saw the stock add nearly 80%. 

The gains come in the wake of a shoutout from partner and artificial intelligence (AI) darling Nvidia (NVDA) in the chipmaker’s earnings call Wednesday, and a compliance plan filed Monday to stave off delisting.  

Still, at Friday’s closing price of $33.15, shares in the server maker are more than 70% off their highs in March, having taken a hit from regulatory concerns following allegations of accounting manipulation and filing delays. 

The stock could face an uphill battle to win back investors’ confidence and return to those levels, with Supermicro now under pressure to complete its delinquent annual report by a fresh deadline, after naming a new auditor and requesting an extension from the Nasdaq. 

The plan still requires approval from the Nasdaq, with analysts at Mizuho telling clients in a note Tuesday they expect the approval process could take between two and five weeks, with a new filing deadline in February.