Supermicro Stock Soars in Extended Trading as Server Maker Meets Filing Deadline | Global News Avenue

Supercomputer (SMCI) After the server manufacturer filed its delayed financial report late Tuesday, the stock has been getting higher and higher, just surpassing its deadline to avoid Insanity Depend on Nasdaq.

The company has Until the end of the day Submit reports on fiscal year 2024 and the first two quarters of fiscal year 2025. Supermicro shares jumped more than 20% after submission, making up for losses during regular trading due to concerns about whether the deadline will be met.

Supermicro said in a press release that Nasdaq confirmed its compliance with the exchange application requirements and that “this matter has been closed.” Nasdaq did not immediately respond to requests for comments about the documents.

Supermicro said in its delayed annual report that fiscal 2024 sales doubled year-on-year to $14.99 billion to increase its growing demand for its products AI. Earlier this month, NVIDIA (NVDA) Partners believe that revenue in fiscal 2026 may reach US$40 billion, after reaching US$23.5 billion to US$25 billion in 2025.

Supermicro said Tuesday’s update was on February 11 Deadline is expected to reachwhich has driven the shares Five-day winning streak.

Server manufacturers experience months of uncertainty after delaying the allegations’ annual report Accounting manipulation This led to the resignation of the company’s auditor last August. Over the past year, by the end of Tuesday, the stock has lost about half of its value.

Updated – feb. 25, 2025: This article has been updated since its first release to include additional information and reflect the latest share price value.