Super Micro Computer Inc. shares experienced significant volatility as the company works to avoid delisting from Nasdaq. After hiring BDO USA as its independent auditor and submitting a compliance plan, shares surged by 13%, marking a 78% weekly gain and positioning the firm for its best week ever. This rebound follows a tumultuous period characterized by allegations of accounting issues and filing delays that erased earlier stock gains.
The debut of Bitcoin ETF options has energized the cryptocurrency market, with over 350,000 contracts traded following their listing on Nasdaq. Approximately 80% of these contracts reflect bullish sentiment among traders regarding the potential for Bitcoin to reach new highs.
Nasdaq Inc. is set to list options on BlackRock Inc.’s Bitcoin exchange-traded fund, potentially starting Tuesday. This move will enable investors to use derivatives to speculate on the price of Bitcoin, a development that Nasdaq"s head of ETP listings, Alison Hennessy, believes will excite investors.
US stocks are experiencing a pullback, with the S&P 500 trimming about a third of its post-election rally. As of early Friday, S&P 500 futures fell 0.6%, while Nasdaq 100 contracts dropped 0.9% and Dow Jones futures decreased by 0.3%, influenced by persistent inflation and hawkish Federal Reserve comments.
Super Micro Computer Inc. faces potential delisting from Nasdaq and removal from the S&P 500 after shares plummeted over 75% since March. The resignation of auditor Ernst & Young LLP, citing concerns about the company's integrity, raises questions about compliance with Nasdaq's obligations. A business update is expected soon, following a US Department of Justice probe and a damaging short-seller report.
Nasdaq Inc. and Cboe Global Markets Inc. have filed a legal challenge against a new rule from the US Securities and Exchange Commission that alters the economic framework for stock trading. The exchanges are seeking a review of the finalized national market structure regulation, known as Reg-NMS, through a petition submitted to a Washington appeals court.
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