Why Super Micro Computer Stock Crashed 29.7% in March But Is Moving Higher in April

Super Micro Computer (NASDAQ: SMCI) stock plummeted in March after one of its co-founders and two other people connected to the company were hit with smuggling charges. The California-based server specialist's shares fell 29.7% in the month, according to data from S&P Global Market Intelligence. Meanwhile, the S&P 500's level declined 5.1%, and the Nasdaq Composite's level declined 4.8%.Supermicro saw a massive valuation decline last month following news that the U.S. Department of Justice had brought charges against people affiliated with the company for allegedly smuggling artificial intelligence (AI) chips to Chinese customers that had been banned from export. As of this writing, Supermicro stock is down roughly 61.5% from its 52-week high. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool