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Super Micro Computer stock falls after S&P 500 addition

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Super Micro Computer stock falls after S&P 500 addition
© Reuters. Super Micro Computer (SMCI) stock falls after S&P 500 addition

The Super Micro Computer (NASDAQ:) stock price declined more than 9% on Monday, the day the server-maker was added to the S&P 500.

At the start of March, S&P Dow Jones Indices announced changes to the index, saying Super Micro Computer and Deckers Outdoor Corp will replace Whirlpool and Zion Bancorporation in the S&P 500, respectively.

SMCI’s stock has been a significant winner in the last 12 months, rising an enormous 897% as the company continues to benefit from the surge in artificial intelligence demand. The company has become a go-to supplier for businesses and governments eager to participate in the AI boom.

The inclusion of SMCI stock in the S&P 500 means it is the index’s new top one-year performer. However, the SMCI stock price is currently trading at $968 per share after a 9.55% decline on Monday. If, as expected, SMCI shares do close lower, it will be their third down day in a row following an increase that saw them reach an intraday high of $1,229 last week.

“Supermicro is honored to be included in the prestigious ,” said Charles Liang, President and CEO of Supermicro. Liang has led the company for its entire history.

“This achievement shows the dedication and hard work of our entire worldwide team to deliver green computing and our Building Block Architecture to become a leader in the emerging AI space as large and small organizations move toward higher productivity,” he added.

Like Nvidia, SMCI has been a frontrunner in the AI boom. Its servers are the hardware used to run AI chips from Nvidia and other producers. In a recent interview with The Wall Street Journal, Liang said that the SMCI base in San Jose, California, is just a 15-minute drive from Nvidia’s headquarters in Santa Clara, their “engineering teams are able to work together from early morning to midnight.”

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US Labor Department corrects productivity data

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Insights from Token2049: How crypto wealth is made

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Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
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Oak Valley Community Bank Named One of Central Valley’s Best Places to Work

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OAKDALE, Calif., April 26, 2024 (GLOBE NEWSWIRE) — Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY) is pleased to announce that it was named by Best Companies Group as one of 2024 Best Places to Work: Central Valley. At the same time, OVCB was recognized by Opportunity Stanislaus for Growing the Economy by increasing their workforce by 10% or more throughout 2023.

We are honored to be acknowledged for our growth and named one of the Best Places to Work in the Central Valley. This recognition is a testament to our commitment to fostering a positive and supportive workplace environment and excellence in all that we do. Our success is built on our service culture, which is embraced by all members of our team. Our exceptional service is what distinguishes us. It’s not just about meeting expectations; it’s about exceeding them in ways that build lasting trust and loyalty. By delivering on this promise consistently, we create our own brand ambassadors “ who speak highly of the bank and refer colleagues and friends. We would like to take this opportunity to recognize our team. We are grateful for their loyalty and commitment to our customers, our communities, and each other, stated Chris Courtney, CEO.

Best Places to Work: Central Valley is a survey and recognition program dedicated to celebrating those employers locally who excel at creating quality jobs and environments where employees are happy to work. As a research-driven program from Best Companies Group, Best Places to Work examines a company’s practices, programs, and benefits and surveys employees for their perspective. All companies that participated in the 2024 Best Places to Work: Central Valley program receive an in-depth evaluation identifying strengths and weaknesses according to their employees. In turn, this report can be used in developing or enhancing employee retention and recruitment programs.

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We are honored to be recognized with this year’s Best Places to Work recipients; Automation Group; O’Dell (NYSE:) Engineering, Inc., Grimbleby Coleman Advisors & Accountants, Haggerty Construction, Inc., ITSolutions-Currie, One Digital, The Wonderful Company, and Community Hospice & Health Services.

Best Places to Work: Central Valley is brought to you by Opportunity Stanislaus. For more information on Best Places to Work: Central Valley visit www.bestplacestoworkcentralvalley.com.

About Opportunity Stanislaus Opportunity Stanislaus is a local economic development organization focused on improving the economic vitality of Stanislaus County. To do so, they help local entrepreneurs start and grow businesses and work to attract innovative companies to the county. For more information visit www.opportunitystanislaus.com.

About Oak Valley Community Bank OVCB offers a variety of loan and deposit products to individuals and small businesses. They currently operate through 18 conveniently located branches: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, two branches in Sonora, three branches in Modesto, and three branches in their Eastern Sierra Division, which includes Bridgeport, Mammoth Lakes, and Bishop. For more information visit www.ovcb.com.

Contact:Chris Courtney/Rick McCarty
Phone:(209) 848-BANK (2265)    
 Toll Free (866) 8447500
 www.ovcb.com
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