In November 2024, Super Micro Computer (SMCI) traded as low as $17.25, attracting buyers. By December, it traded as high as $45 twice. However, after Dec. 9, sellers took advantage of the rally and took profits.
Until the company files its quarterly and annual reports, SMCI stockholders are now in the waiting phase. They may not assume that the company will meet the filing deadline to remain compliant. For now, investors may dismiss rumors about lost orders. Instead, watch reports from Dell Technologies (DELL) and Hewlett Packard Enterprise (HPE). The risks of slowing demand for servers are a greater risk for the industry.
Last week, Palantir Technologies (PLTR) gained another 6.56%. Pulling back from a $84.80 peak to close at $79.08, its premium valuations are the only near-term risk. The defense technology firm may increase its addressable market as it forms a consortium with Anduril and a dozen other rival firms. As a result, the firm may win bigger contracts with the U.S. government.
Tesla (TSLA) is quickly losing its bullish momentum. The stock closed at lower highs at $488.54 and $460 in recent weeks. After trading at $431.66, speculators in the electric vehicle market may move on. This would send Rivian Automotive (RIVN) and Lucid Motors (LCID) shares lower. Short sellers hold a 23.42% short float against LCID stock. The short float on RIVN stock is 19.2%.