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Super Micro investors continued to rush the exits on Friday, pushing the stock down another 11% and bringing this week's sell-off to 45%, after the data center company lost its second auditor in less than two years.
Shares of server company Super Micro Computer plunged 13% on Tuesday after the company announced fiscal fourth-quarter earnings that missed analyst expectations. The company also announced a 10-for-1 stock split, set to begin trading on a split-adjusted basis on Oct. 1.
Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence chips through resellers, despite the U.S. widening a ban last year on the sale of such technology to China.
Shares of Super Micro Computer dropped Tuesday after the company announced a new share offering, taking a bite out of one of the biggest rallies tied to the artificial intelligence boom.
Super Micro Computer stock popped more than 25% in Monday morning trading after the company was selected on Friday to join the S&P 500.