(Reuters) – Super Micro Computer’s stock price dropped by 5% on Wednesday following the announcement of its public stock offering at a discounted price. This decline marks the fifth consecutive session of losses for the company, resulting in a 28% decrease in market capitalization and a share price of $862.
The company, known for its AI-optimized servers, plans to sell 2 million shares of common stock at $875.00 each, expecting to generate $1.75 billion in gross proceeds. The stock had closed at $910.97 on Tuesday after the offering was announced, representing a 9% decrease.
Despite the recent decline, Super Micro’s shares have more than tripled in value this year, reflecting its success in developing AI-compatible servers and proprietary liquid cooling technology.
2024-03-20 11:51:23
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