Super Micro Computer Stock Slumps on Nasdaq 100 Removal, Possible Capital Raise [Video]

Super Micro Computer (SMCI) shares slumped Monday morning as the stock feels the impact of a pair of headlines that came out after the bell Friday, including a potential capital raise and the stock’s removal from the Nasdaq 100 Index.

The Nasdaq said Friday that Palantir (PLTR), MicroStrategy (MSTR), and Axon Enterprise (AXON) would join the index starting next week, replacing Super Micro Computer, Moderna (MRNA), and Illumina (ILMN).

Super Micro is being replaced on the index less than six months after it was added in July, as shares have lost 70% of their value entering Monday since closing at a record $118.81 in March.

Along with the index removal, Bloomberg also reported Friday that Super Micro has hired investment banking advisory firm Evercore (EVR) to assist the server maker in raising capital. The raise could involve equity or debt, or take the …