Yesterday's AI giant stocks may be delisted, with stock prices plummeting by over 80%
The AI giant stocks of the past may be delisted next week!
According to the rules of the NASDAQ exchange, Supermicro Computer must submit an audited 10-K annual report or a compliance plan to the exchange before November 18th. The theoretical deadline is November 16th, but according to exchange rules, if the last day is a weekend, it will be postponed until the end of the next trading day.
On November 16th, after hours trading, Supermicro Computer saw a significant increase, with the stock rising over 17% as of press time. According to Barron's, a source familiar with the matter revealed that Supermicro Computer plans to submit a plan application to NASDAQ to avoid delisting.
It is worth noting that Supermicro Computer has not been delisted for the first time. In 2019, the company was delisted from the NASDAQ exchange for failing to submit its annual report and several quarterly reports on time. In 2020, Supermicro Computer reached a settlement agreement with the SEC regarding accounting issues and returned to the NASDAQ exchange after meeting compliance conditions.
Wedbush analyst Matt Bryson said that he has never seen the same company experience the same problem twice, and he really doesn't know how this will affect what happens next.
[align center] Company response: Take all necessary measures as soon as possible