Why Super Micro Computer Paced Today’s Biggest Large-Cap Losers

Large-cap tech stocks were showing weakness today, with the heaviest trading activity concentrated in technology and semiconductor stocks. The high trading volumes suggest significant institutional activity, with NVIDIA (NVDA) and Tesla (TSLA) leading in terms of trading volume and showing notable price declines.

By the close, the VanEck Semiconductor ETF (SMH) was down 2.12%, and the broader Invesco QQQ Trust (QQQ) gave up 1.26%.

Chip Stocks, Tesla Trade Lower

Tech traders took a risk-off attitude as the Trump administration reportedly weighed cuts to the CHIPS Act, along with tighter chip export controls targeting China. Intel (INTC) was down 5.27% on volume of 88 million shares, while NVDA slipped 2.8% on massive volume of 267.3M shares ahead of its Wednesday night earnings report.

Elsewhere, Tesla struggled in the wake of more dismal European sales data. TSLA notched a significant decline of 8.39% on heavy volume of 132.9M shares, and is now down by 38% from its mid-December highs.

Why SMCI Stock Sold Off Hard Today

Super Micro Computer (SMCI) led the pack of large-cap losers with a drop of 11.76% on volume of 118.8M shares. SMCI is now down by 31% from its Feb. 19 high, and has unceremoniously snapped a four-day streak above familiar resistance at its 200-day moving average.

Today marks the deadline for the artificial intelligence (AI) server company to file its outstanding financial paperwork or risk being delisted from the Nasdaq, which would likely trigger mass selling by institutional investors. While SMCI could still manage to hit the buzzer on its deadline, Barchart’s Sarah Holzmann highlights 3 reasons why investors might want to skip the stock anyway.