Supermicro's Stock Soars on Deadline Extension

Super Micro Computer Inc. (SMCI) experienced a significant boost in its share price, jumping over 9% during Monday's pre-market trading. This surge followed the announcement that Nasdaq had granted the company an extension until February 25 to submit its overdue annual and quarterly financial statements.

In a strategic move last month, Super Micro appointed BDO USA as its new auditing firm. The company also presented a compliance strategy to the stock exchange, outlining its plan to file the pending annual and quarterly reports amidst delisting threats.

As of 4:38 am ET, SMCI's shares had risen by 9.49%, trading at $48.10.