Super Micro Computer (SMCI) said in a filing with the Securities and Exchange Commission late Monday that it has submitted a compliance plan to avoid delisting from the Nasdaq.
The company said its compliance plan shows it is on track to submit delayed filings to the SEC “and become current with its periodic reports within the discretionary period available to the Nasdaq staff to grant.”
Barron’s reported on Friday after the bell that Super Micro would submit its plan to prevent delisting by Monday’s deadline, citing people familiar with the matter. Super Micro shares jumped over 25% in after-hours trading following the filing late Monday; the stock surged roughly 16% during regular trading to start the week.
Shares have tumbled roughly 65% over the past three months. After gaining as much as 300% earlier this year, SMCI stock is now down over 20% in 2024.
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