$SMH -21% from its July 2024 ATH https://t.co/xYuPCJcfvP
$SMCI down almost 50% from the highs less than two weeks ago https://t.co/WCIvTdPErz
We warned about $SMCI massive accounting fraud when they reported their earnings last week. The stock is now down -35% since they reported last week. https://t.co/q807gjhiPS
The semiconductor sector is facing significant challenges, with the Semiconductor ETF ($SMH) trading below its 50-week moving average for the first time in 26 months. Analysts have noted a clean break of the 200-day moving average, indicating a bearish trend, with a critical resistance level at $232.50. Additionally, Super Micro Computer Inc. ($SMCI) has seen a dramatic decline, with its stock down nearly 50% from recent highs and 35% since reporting earnings last week. Insiders at Super Micro have sold millions in stock after receiving clearance from Nasdaq on financial filings, raising concerns about potential accounting issues.
