September 20, 2023

Shares of Super Micro Computer, Inc. (SMCI) surged on Tuesday after a report that the company plans to submit a plan to Nasdaq to retain its listing on the exchange.

SMCI had been at risk of being delisted from Nasdaq due to its failure to meet the exchange's minimum bid price requirement of $1.00 per share for 30 consecutive business days.

According to a report by Bloomberg, SMCI plans to submit a plan to Nasdaq that includes a reverse stock split and a capital raise.

A reverse stock split would reduce the number of outstanding shares and increase the share price.

The capital raise would provide SMCI with additional funds to meet Nasdaq's listing requirements.

The report of SMCI's plan to retain its Nasdaq listing boosted investor confidence and sent the stock soaring.

SMCI shares jumped over 20% in premarket trading on Tuesday.

The stock continued to rise in regular trading, closing up 15% at $1.15 per share.

Analysts welcomed the news of SMCI's plan to retain its Nasdaq listing.

"This is a positive development for SMCI," said Brian White, an analyst at Wedbush.

"It shows that the company is taking steps to address its listing issues and that it is committed to remaining a publicly traded company."

SMCI has not yet officially confirmed the report of its plan to retain its Nasdaq listing.

However, the company did issue a statement saying that it is "evaluating all options to maintain its Nasdaq listing."

The news that SMCI plans to submit a plan to retain its Nasdaq listing has been met with optimism by investors and analysts.

If SMCI's plan is approved by Nasdaq, it would remove the risk of the company being delisted.

This would be a significant positive development for SMCI and its shareholders.

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