Super Micro Computer makes servers. In November, the price of its stock rose more than 20%. On Monday, it was going down again after a big drop on Friday. Still, the world’s biggest hedge fund was interested in the stock.
According to a filing with the Securities and Exchange Commission, Bridgewater Associates increased its shares of Super Micro, Palantir Technologies PLTR 1.56%, and Advanced Micro Devices AMD 0.69% in the third quarter. During that time, it sold 2.15 percent of its Nvidia stock.
While everyone is talking about AI companies, Super Micro’s price has been going up and down a lot. In November alone, it went up or down by 10% or more on 10 of the 19 trading days. The company has had trouble filing its earnings reports on time and has had to switch auditors. However, its servers are in high demand for AI apps.
Since Ernst & Young quit as the company’s auditor, BDO is now looking over its books on its own. The company that makes servers also said last month that it had a plan to keep its Nasdaq listing after missing a deadline for filing its financial reports. This gave it more time to meet the deadline set by the index, but there are still risks because it hasn’t filed its yearly report or results from the most recent quarter.
Before the market opened, Super Micro stock fell 2.9% to $31.70. This came after it fell 6.9% on Friday. The stock has been up 15% since January 1, but it has dropped 25% in the last three months.
The stock that did the worst in the S&P 500 SPX 0.56% on Friday, which was a short session because of the Thanksgiving holiday the day before.
