The stock market was mixed on Tuesday as traders shrugged off concerns on escalations in the Russia-Ukraine war. NVIDIA (NVDA) helped pull stocks higher with S&P 500 rising 0.4% to 5,917, while NASDAQ increasing 1.0% to 18,987.
Tweet of the Day
MercadoLibre $MELI is one of the largest holdings in my Growth Portfolio. https://t.co/Gib5FCNKnC
— David Sharek (@GrowthStockGuy) November 10, 2024
Chart of the Day
Here is the one-year chart of Supermicro Computer (SMCI) as of November 12, 2024, when the stock was at $22.
Supermicro Computer stock has been buried after the company got accused of accounting irregularities. The issues began with a short-sellers report which you can read here. A few days later, the company failed to file its Annual report, then its accounting firm Ernst & Young resigned as it was not able to rely on management’s representations. The company then failed onto file its quarterly earnings as it has no accounting firm to verify the number. Now, SMCI stock could be delisted from the NASDAQ. Meanwhile, business is booming.
SMCI was removed from our Growth Portfolio and Aggressive Growth Portfolio.
