Super Micro surges as delisting fears fade
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 26 February 2025
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Wednesday, February 26th. I'm Julie Morgan. Super Micro makes the deadline. |
| 0:15.8 | Tesla's market cap falls, and China makes a big accusation against Taiwan. Supermicrocomputer is up 26% in |
| 0:26.0 | pre-market action. This after the company filed its delinquent financial reports to the U.S. |
| 0:31.9 | Securities and Exchange Commission just ahead of its deadline. Shares of SMCI closed Tuesday 11.5% lower. There was uncertainty |
| 0:41.2 | about whether it would file its audited annual report for fiscal 2024 and the first two quarters |
| 0:47.3 | of fiscal 2025 by the February 25th deadline. If not, it faced a possible delisting from NASDAQ. In Supermicros 10K filing, |
| 0:57.5 | the company contends it does not agree with Ernst & Young's resignation or its reasons for doing so. |
| 1:03.5 | Concerns about the company's financial statements cropped up in late August when Hindenburg |
| 1:08.3 | research issued a report that it was short Super Micro shares. |
| 1:11.6 | A day later, Super Micro said it was delaying its annual 10K filing. |
| 1:16.6 | Super Micro works closely with companies such as Nvidia, Advanced Micro devices, and Intel |
| 1:23.6 | to develop products that are compatible with the latest generation of industry standard technologies. |
| 1:29.1 | It also creates liquid cooling systems for GPUs and CPUs and data centers. |
| 1:35.8 | Now, an update to a story we first told you about on Tuesday on Wall Street lunch with Kim Kahn. |
| 1:41.8 | Tesla tumbled on Tuesday, pushing its market cap below $1 trillion |
| 1:46.1 | for the first time since November 2024. The EV maker's stock fell 8.39% closing at $302.80 on |
| 1:55.6 | Tuesday, with the company's market cap now at $948 billion. The decline follows data from the European Automobile |
| 2:02.9 | Manufacturers Association, which showed that Tesla's sales in Europe dropped 45% in January. Tesla's shares |
| 2:10.5 | have lost about 25% in value year-to-date, despite rising over 51% in the past year. Investors have also raised concerns over the |
| 2:21.0 | CEO's alliance with President Trump and his political involvement. China has recently accused |
| 2:28.1 | Taiwan of attempting to relinquish its semiconductor industry to the U.S. to gain political |
... |
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