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Ai Investing

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finance1 year ago

"Super Micro Computer's Stock Plunge Amid Share Sale Struggles"

Super Micro Computer's shares plummeted after the company announced a plan to sell 2 million additional shares of common stock, causing its total shares outstanding to exceed 58.5 million. The stock had previously surged due to excitement around generative artificial intelligence, but fell 9% on the stock market following the news. Despite this, Super Micro stock still ranks first in IBD's computer hardware industry group and is on two IBD stock lists: Big Cap 20 and Tech Leaders.