Why SMCI stock price is crashing again
During a generally quiet period in the market – Thanksgiving – one deeply troubled stock made an unexpectedly large downward move – Super Micro Computer (NASDAQ: SMCI).
Specifically, around 8:30 AM EST on November 29, SMCI shares plunged 10% within minutes, only to partially rebound and form something of a cup-and-handle pattern, leading them to their press time price near $32, per the data retrieved from Robinhood (NASDAQ: HOOD) on Friday.
Though there is no clear indication of why the move occurred, some investors have taken it as a major ‘buy the dip’ opportunity, while others – as evidenced by the overall downward direction – believe the decline will…
