Super Micro shares drop 8% amid Nasdaq 100 changes

On Tuesday, shares of Super Micro Computer (NASDAQ:SMCI ) experienced a significant drop, falling over 8%. This decline came amidst reports from Bloomberg Intelligence suggesting that Super Micro Computer, along with several other companies, is likely to be removed from the Nasdaq 100 index . According to the report, Super Micro Computer is expected to be replaced by firms such as Palantir (NASDAQ:PLTR ) and Microstrategy, Inc. (NASDAQ:MSTR ).

Despite the drop in share value, the CEO of Super Micro Computer expressed confidence that the company's stock would not face delisting from the Nasdaq exchange. This statement was made during an interview, as reported by Reuters. He did not commented on Super Micro Computer's standing in the Nasdaq 100 index.

The Nasdaq 100 index is set for a shakeup with the anticipated addition of companies like Palantir, Microstrategy, Inc., Equinix (NASDAQ:EQIX ), and Axon (NASDAQ:AXON). These firms are poised to take the places of Moderna (NASDAQ:MRNA ), Illumina (NASDAQ:ILMN ), Super Micro Computer, and Arm Holdings (NASDAQ:ARM ) in the index.

Moderna's shares also saw a downturn, with a decrease of 3%. The changes in the Nasdaq 100 are based on Bloomberg Intelligence's analysis and are not yet final. The index is reviewed regularly and adjusted to reflect the market's most prominent and influential companies.

Nasdaq will announce the additions and deletions from the Nasdaq 100 index on December 13.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com