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Message
What should I do in this situation? (SMCI)
Posted on 11/13/24 at 2:42 pm
Posted on 11/13/24 at 2:42 pm
My SMCI is down 46%. It's a large amount of money. I bought on July 28 during a pullback. And then the wheels began falling off, one at a time and the hits keep coming. I thought about taking a loss several times, then decided against it, hoping they'd fire the CFO or do something to re-establish investor confidence. And of course now I am kicking myself.
There are several class-action suits against SMCI now. They are at great risk of being unlisted. In fact, I am surprised it hasn't happened yet.
I don't know what to do. I've never been in this situation, but here I am. Should I join the class-action suits as a plaintiff?
There are several class-action suits against SMCI now. They are at great risk of being unlisted. In fact, I am surprised it hasn't happened yet.
I don't know what to do. I've never been in this situation, but here I am. Should I join the class-action suits as a plaintiff?
10
Posted on 11/13/24 at 3:24 pm to Naked Bootleg
I sold, and took a six figure loss. I didn’t have accounting fraud in my bingo card, but there is too much uncertainty. With news of NVDA reallocating chips to other customers, others will be quick to take market share if they can.
If the outlook changes, I can always ride the wave back up.
If the outlook changes, I can always ride the wave back up.
Posted on 11/13/24 at 3:32 pm to Naked Bootleg
Is SMCI your largest holding?
How much we talking?
How far are you away from retirement?
Me personally I’m holding it hoping it comes back up
How much we talking?
How far are you away from retirement?
Me personally I’m holding it hoping it comes back up
Posted on 11/13/24 at 4:04 pm to Double Oh
quote:
Is SMCI your largest holding?
No, thank goodness.
quote:
How much we talking?
As of today I am -$62,753.13. -46.86%.
quote:
How far are you away from retirement?
6 years, if all goes to plan.
quote:
Me personally I’m holding it hoping it comes back up
That's what I've been doing but I would have GLADLY taken a 25% loss had I known their leadership would continue shitting the bed. At this rate, it'll be a penny stock in a few weeks.
Does the NYSE announce a de-listing ahead of time? Or is it like, you wake up one day and they've been de-listed?
Posted on 11/13/24 at 4:16 pm to Double Oh
quote:
Me personally I’m holding it hoping it comes back up
Stand in front of a mirror, look yourself in the eyes, and say the above out loud. So fricking dumb to be giving this out as advice. There are better places to put the money than in HOPE that this shite show claws its way back up.
This post was edited on 11/13/24 at 4:17 pm
Posted on 11/13/24 at 4:33 pm to Naked Bootleg
Your basis and all that jazz is irrelevant since it’s a loss.
The question is always “if I didn’t own this stock, would I buy $80,000 (roughly what you must have) of it today”. If the answer is yes, hold onto it. If no, cut down to the number you would buy, if any.
The question is always “if I didn’t own this stock, would I buy $80,000 (roughly what you must have) of it today”. If the answer is yes, hold onto it. If no, cut down to the number you would buy, if any.
Posted on 11/13/24 at 5:11 pm to slackster
As buffet says sometimes the best thing is to get out of a stock and take a loss. He also says why hold a stock if your not willing to buy the stock at its current price
Posted on 11/14/24 at 9:31 am to Flightnclouds
Well hell. Jim Cramer just said "Supermicro is in real hot water" so I should probably hold it. 
I'll hold my nose and dump it today.
Thanks guys.
I'll hold my nose and dump it today.
Thanks guys.
Posted on 11/14/24 at 10:34 am to Naked Bootleg
SMCI is a cluster that we have not had it seems in a bit.
After xAI used them to build out their data center in record time, I thought they could turn the corner, from the Hindenburg report The E&Y departure killed them for me. It takes major dumbassness to crash this bad during the AI boom, and being a stock key to AI.
Those class action lawsuits never go anywhere, would prefer criminal for the CEO
After xAI used them to build out their data center in record time, I thought they could turn the corner, from the Hindenburg report The E&Y departure killed them for me. It takes major dumbassness to crash this bad during the AI boom, and being a stock key to AI.
Those class action lawsuits never go anywhere, would prefer criminal for the CEO
Posted on 11/14/24 at 11:29 am to DarthRebel
The problem here is you don't even know what they do lol.
They make servers, commodity arse, shitty servers. They didn't help xAI build anything.
They make servers, commodity arse, shitty servers. They didn't help xAI build anything.
Posted on 11/14/24 at 11:34 am to Naked Bootleg
quote:
My SMCI is down 46%. It's a large amount of money. I bought on July 28 during a pullback. And then the wheels began falling off, one at a time and the hits keep coming.
I'm in the same position and currently sitting at a 68% loss. At this point, I refuse to take the hit and I'm going to hold until it rebounds closer to my break even point. I don't care if I have to hold on to it for another year. Eventually it will rebound and I'll recoup some of my money. Below is an article I read yesterday on SMCI that gave me a little more hope that even with all the turmoil, the stock still has some good legs to stand on for a bounce back.
I've also been wavering if I should buy a little more while it's sitting at it's lowest price point at $18. I haven't pulled the trigger on that yet, but a friend of mine has.
LINK
This post was edited on 11/14/24 at 11:40 am
Posted on 11/14/24 at 12:22 pm to j1897
quote:
They make servers, commodity arse, shitty servers.
Hey now, my supermicro server has been dishing out Plex for years now with no hiccups.
Posted on 11/14/24 at 12:42 pm to Naked Bootleg
quote:very good description of my life as a trader
down 46%. It's a large amount of money. I bought during a pullback. And then the wheels began falling off, one at a time and the hits keep coming.
Could even be the mission statement of the MB
Posted on 11/14/24 at 1:12 pm to Hammond Tiger Fan
quote:
I've also been wavering if I should buy a little more while it's sitting at it's lowest price point at $18.
I did that twice, at $32 and $24. LOL.
I sold 2/3 of it today. I'll hang onto the other 1/3 just to see what happens.
Posted on 11/14/24 at 1:33 pm to Naked Bootleg
Sell some covered calls with strike price set where you would be ok selling or getting out. At least collect some premium while you are waiting on your stock to come back. Absolute worst case your stock pops up and you miss on some upside but you still keep your premium and your shares are sold where you’re ok with
Posted on 11/14/24 at 1:51 pm to Naked Bootleg
I can’t see a scenario where the current shareholders will see any future upside. This company’s already been delisted once.
If the current shareholders aren’t wiped out from another delisting or bankruptcy, I’d imagine they can expect a PE firm taking it private, repackaging it, then IPO’ing it again in a couple years.
If the current shareholders aren’t wiped out from another delisting or bankruptcy, I’d imagine they can expect a PE firm taking it private, repackaging it, then IPO’ing it again in a couple years.
Posted on 11/14/24 at 3:37 pm to Hammond Tiger Fan
quote:
I'm in the same position and currently sitting at a 68% loss. At this point, I refuse to take the hit and I'm going to hold until it rebounds closer to my break even point. I don't care if I have to hold on to it for another year. Eventually it will rebound and I'll recoup some of my money.
This is generally a terribly emotional way to approach investing.
It may or may not work this time, but terrible strategy nonetheless.
If you bought Intel in July 2000, you’d have lost 60% by March 2021. It would have taken you 18 more years to get back to break even, and that’s including dividends which Intel paid the whole time.
This stock was $9 as recently as 2 years ago. You can still lose a lot of money from here.
If you believe in the stock and you’d buy it at these prices, go right ahead and hold it, but get over your original purchase price and make rational decisions.
Posted on 11/14/24 at 5:42 pm to slackster
quote:
quote:
I'm in the same position and currently sitting at a 68% loss. At this point, I refuse to take the hit and I'm going to hold until it rebounds closer to my break even point. I don't care if I have to hold on to it for another year. Eventually it will rebound and I'll recoup some of my money.
This is generally a terribly emotional way to approach investing.
It may or may not work this time, but terrible strategy nonetheless.
If you bought Intel in July 2000, you’d have lost 60% by March 2021. It would have taken you 18 more years to get back to break even, and that’s including dividends which Intel paid the whole time.
This stock was $9 as recently as 2 years ago. You can still lose a lot of money from here.
If you believe in the stock and you’d buy it at these prices, go right ahead and hold it, but get over your original purchase price and make rational decisions.
Some people like to take that risk. Investing in stocks does come with a risk. I dont think there a right or wrong way in deciding wether to cut bait or keep holding on to the stock.
Posted on 11/14/24 at 5:46 pm to Fat Batman
quote:
quote:
Me personally I’m holding it hoping it comes back up
Stand in front of a mirror, look yourself in the eyes, and say the above out loud. So fricking dumb to be giving this out as advice. There are better places to put the money than in HOPE that this shite show claws its way back up.
Oh so we edited the original post. Interesting..
I never told him to hold onto the stock. I said ME personally i would. Different strokes for different folks.
It sounds like the guy is well diversified in his portfolio and if he loses it all i dont think that breaks him . He wants to retire in 6 years so im thinking he has his shite together if SMCI goes belly up. Some people like taking more risk than others. Im included in that. Im just built different in that i like to take risks in the market.
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