Supermicro Stock Soars in Extended Trading as Server Maker Meets Filing Deadline

• Super Micro Computer shares surged after the company submitted its delayed financial reports just ahead of a deadline late Tuesday to avoid being delisted by the Nasdaq.

• The stock had tumbled during Tuesday's regular session amid concerns about whether the deadline would be met.

• The stock lost about half its value over the past year through Tuesday’s close.

Super Micro Computer (SMCI) shares rocketed higher after the company submitted its delayed financial reports late Tuesday, just beating its deadline to avoid being delisted by the Nasdaq.

The company had until the end of the day to file its reports for fiscal 2024 and the first two quarters of fiscal 2025. Supermicro shares jumped over 20% following the submissions, more than making up for losses during the regular trading session amid concerns about whether the deadline would be met.

Supermicro said in a release that it received confirmation from the Nasdaq it has regained compliance with its filing requirements, and that "the matter is now closed." The Nasdaq did not immediately respond to a request for comment on the filings.

The update comes after Supermicro said on Feb. 11 that it expected to meet the deadline, which propelled shares to a five-day winning streak. 

The server maker has gone through months of uncertainty after delaying the filing of its annual report amid accusations of accounting manipulation last August that led to the resignation of the company's auditor. The shares lost about half their value over the past year through Tuesday’s close.

UPDATE—Feb. 25, 2025: This article has been updated since it was first published to include additional information and reflect more recent share price values.

Read the original article on Investopedia