Nov 19, 2024 (Baystreet.ca via COMTEX) --
Super Micro Computers (SMCI) could trade around 40% higher this morning. Last night after markets closed, the firm said that it engaged an independent auditor. It submitted a compliance plan to Nasdaq.
The firm believes it will complete its annual Form 10-K report and its quarter 10-Q report.
Marathon Digital (MARA) dropped by 14% on Monday after it announced a $700 million convertible unsecured senior notes offering. The offering is bad news for investors. To benefit, the company needs Bitcoin prices to rise from here.
Tesla (TSLA) traded as high as around $348 yesterday. Markets are betting the incoming Trump Administration will help lift the company’s self-driving offering. If the government introduces rules and regulations that accelerate the approval of Tesla’s cyber cab and self-driving products, its revenues will rise.
In China, watch Xiaomi (XIACF). The firm reported a GAAP EPS of RMB 0.21. Revenue increased by 30.5% Y/Y to RMB 92.51 billion. In Q3, the firm achieved 39,790 deliveries of Xiaomi SU 7 electric vehicles. Watch Geely (GELYF), which is trading near a 52-week high.
When XPeng (XPEV) reports quarterly results, it may lift shares of both Geely and BYD (BYDDF). Zeekr (ZK), Li Auto (LI), and Nio (NIO) are also showing signs of rebounding.
COMTEX_459965423/2559/2024-11-19T10:42:52
