On August 27, 2024, a new short report from Hindenburg Research ignited panic selling in Super Micro Computer (SMCI) stock. Shares closed at around $547 that day. At the time of this article’s publication, the stock traded at $386.46.
Hindenburg’s bearish claims are not the primary problem for SMCI stock. The firm’s delay in filing its 10-K on time is.
In the document signing software space, Watch DocuSign (DOCU). Buyers accumulated the stock after the firm issued a Q3 revenue forecast ranging from $743 million to $747 million. For the full year, DocuSign will report revenue of up to $2.95 billion.
Even though the firm does not have a moat, DOCU stock looks attractive. Customers continue to subscribe to its service.
UiPath (PATH) initially rallied after posting a non-GAAP profit. It ended down by 6% to close at $11.97 on September 6. The automation provider did not impress analysts, who are still neutral. The firm needs to grow its annual recurring revenue.
Mobileye (MBLY), of which Intel (INTC) has a majority ownership, risks falling below $10.00. Shares lost nearly 75% of their value YTD. It will fall further if Intel decides to sell the stock to raise cash.
Intel would benefit by holding off on the fire sale. The firm should wait for market conditions to improve before selling MBLY stock.
