![13 Tips for Creating Videos for Instagram Like the Brands You Love [+ Examples]](https://www.hubspot.com/hubfs/creating%20videos%20for%20instagram%20featured.png)
SMCI stock given huge downgrade from $3 trillion banking giant
The post SMCI stock given huge downgrade from $3 trillion banking giant appeared on BitcoinEthereumNews.com. Few stocks have experienced a fall from grace as massive as the information technology giant Super Micro Computer (NASDAQ: SMCI). In fact, after being nothing short of a jaw-dropping performer in the first quarter of the year – and rising from $285 to about $1,200 between January and March – Supermicro entered a long period of decline. Late in August, the decline turned into a freefall. First, Hindenburg Research announced it had taken a short position against SMCI shares, alleging lackluster compliance and a string of abuses. Subsequently, Supermicro’s postponement of its K-1 filing did little more than further shake investor confidence. The dramatic price action was followed by a deluge of price target revisions, the latest of which, dated September 6, was a massive cut made by the banking giant JPMorgan (NYSE: JPM). JPMorgan makes brutal revision of SMCI stock price target In an investor note, analysts at JPMorgan announced they no longer consider Supermicro stock ‘overweight’ – ‘buy’ – but are turning neutral. The more shocking part of the notice was the price target revision, which lowered the forecast by a full $450 – from $950 to $500. Still, the banking giant with nearly $3 trillion in assets under management (AUM) explained that the changes do not reflect a long-term lack of confidence in SMCI but rather ongoing turbulence and uncertainty. Indeed, experts with JPMorgan have simultaneously expressed their confidence that Supermicro will be able to clear the roadblocks, come back into compliance, and, in turn, restore its growth potential in the long run. Despite the bullish undertones, however, the banking giant acknowledged the existence and severity of current issues and cited the uncertainty resulting from these factors as the main reason behind the downgrade. SMCI stock price chart JPMorgan’s long-term faith in Supermicro is also visible in…
The post SMCI stock given huge downgrade from $3 trillion banking giant appeared on BitcoinEthereumNews.com.
Few stocks have experienced a fall from grace as massive as the information technology giant Super Micro Computer (NASDAQ: SMCI). In fact, after being nothing short of a jaw-dropping performer in the first quarter of the year – and rising from $285 to about $1,200 between January and March – Supermicro entered a long period of decline. Late in August, the decline turned into a freefall. First, Hindenburg Research announced it had taken a short position against SMCI shares, alleging lackluster compliance and a string of abuses. Subsequently, Supermicro’s postponement of its K-1 filing did little more than further shake investor confidence. The dramatic price action was followed by a deluge of price target revisions, the latest of which, dated September 6, was a massive cut made by the banking giant JPMorgan (NYSE: JPM). JPMorgan makes brutal revision of SMCI stock price target In an investor note, analysts at JPMorgan announced they no longer consider Supermicro stock ‘overweight’ – ‘buy’ – but are turning neutral. The more shocking part of the notice was the price target revision, which lowered the forecast by a full $450 – from $950 to $500. Still, the banking giant with nearly $3 trillion in assets under management (AUM) explained that the changes do not reflect a long-term lack of confidence in SMCI but rather ongoing turbulence and uncertainty. Indeed, experts with JPMorgan have simultaneously expressed their confidence that Supermicro will be able to clear the roadblocks, come back into compliance, and, in turn, restore its growth potential in the long run. Despite the bullish undertones, however, the banking giant acknowledged the existence and severity of current issues and cited the uncertainty resulting from these factors as the main reason behind the downgrade. SMCI stock price chart JPMorgan’s long-term faith in Supermicro is also visible in…
What's Your Reaction?
