The stock had an RSI of 97 before falling back.

Super Micro Computer, SMCI, fell 15 percent in 10 minutes after briefly crossing 1,000 per share. Last Thursday we noted that the SMCI had a daily RSI of 97, the second stock ever to do so. The first was Gamestop, GME. This happened in January 2021, exactly the day before it peaked. Some call options in SMCI have gone from up 300% to down 50% in minutes.

Super Micro Computer had not had a single day of decline since February 2 before trading opened on February 16, 2024.

Bank of America initiated coverage this week with a buy recommendation and a $1,040 price target. The stock reached USD 1 045 on Friday, before falling back.

SMCI has a 1.6% weighting in the Russell 2000 US small-cap index. This is the largest weight a company has ever had in the index.

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