Supermicro to be Delisted from Nasdaq Amid Crypto Troubles

January 25, 2023

Supermicro, a major supplier of server and storage solutions, has received a delisting notice from the Nasdaq Stock Market.

The move comes after the company failed to maintain a minimum closing bid price of $1.00 per share for 30 consecutive business days.

The delisting will take effect on February 6, 2023, and Supermicro's common stock will no longer be traded on the Nasdaq.

The company has expressed its disappointment with the delisting decision but remains committed to its business and customers.

The Nasdaq delisting is primarily due to Supermicro's recent financial struggles, particularly in its cryptocurrency mining business.

The company's stock price has plummeted by over 90% in the past year as the cryptocurrency market has declined.

Investors who hold Supermicro shares will have several options after the delisting:

Sell their shares on the over-the-counter (OTC) market.
Convert their shares into shares of a different company through a reverse merger.
Hold onto their shares and hope for a future recovery.

Supermicro's future prospects are uncertain following the delisting.

The company is exploring strategic alternatives, including a potential sale, to improve its financial position.

However, the current market conditions and the company's crypto exposure pose significant challenges.

Supermicro's delisting from Nasdaq is a significant setback for the company.

Investors are advised to carefully consider their options and consult with financial professionals before making any decisions.

The company's future remains uncertain, and it faces significant challenges in the current market environment.