SMCI Stock Rebounds 1.3% Overnight After Worst 28% Drop in 3 Months; Retail Traders Question $39B Orders

According to Stocktwits data, Super Micro Computer Inc. (SMCI) stock rebounded 1.3% in overnight trading on June 11 after plummeting 28% on Wednesday (June 10), its worst decline in nearly three months. The sell-off was triggered by the company's announcement of a $7 billion equity offering and sparked dilution concerns among investors.

During the announcement, SMCI disclosed that it had received approximately $39 billion in new orders from 20 customers for advanced AI servers in recent weeks. However, retail traders on Stocktwits remained divided on the legitimacy of the orders. While some viewed the drop as an oversold opportunity, others expressed skepticism, with one trader stating: "$SMCI would go back up if they showed proof of 39bil in orders." The sentiment stems partly from concerns over management credibility following the March indictment of one of the company's co-founders on charges related to illegally selling advanced AI servers to Chinese customers.