markets

9/26/24

DOJ investigates Super Micro: report

It’s one thing when a short seller raises questions about your company. It’s another thing entirely when the US Department of Justice comes calling.

The Wall Street Journal reports that the DOJ is investigating former AI darling Super Micro Computer.

This came about a month after short-selling firm Hindenburg Research put out a report about the company’s questionable business practices, including accounting irregularities, and said that it would bet against the stock, shares tumbling. The next day, management announced a delay in the filing of its annual report because it need to reassess its accounting.

Shares of Super Micro are down about 13% on Thursday as of 11:30 a.m. ET, hitting their lowest level since January.

The DOJ’s probe appears to be related to a former employee’s lawsuit against Super Micro and its CEO over alleged accounting violations, according to the WSJ. That lawsuit was also referenced in Hindenburg Research’s report.

Super Micro sells servers that can handle AI workloads. Earlier this year, its shares skyrocketed amid the broader AI boom, rising more than 300% over the first three months of 2024. Now, the stock has fallen nearly 70% from its March peak.

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This came about a month after short-selling firm Hindenburg Research put out a report about the company’s questionable business practices, including accounting irregularities, and said that it would bet against the stock, shares tumbling. The next day, management announced a delay in the filing of its annual report because it need to reassess its accounting.

Shares of Super Micro are down about 13% on Thursday as of 11:30 a.m. ET, hitting their lowest level since January.

The DOJ’s probe appears to be related to a former employee’s lawsuit against Super Micro and its CEO over alleged accounting violations, according to the WSJ. That lawsuit was also referenced in Hindenburg Research’s report.

Super Micro sells servers that can handle AI workloads. Earlier this year, its shares skyrocketed amid the broader AI boom, rising more than 300% over the first three months of 2024. Now, the stock has fallen nearly 70% from its March peak.

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9/12/25

Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

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markets

9/12/25

Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season pass sales heading into the fall. The nine-week period ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, with stronger momentum in the final four weeks.

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up about 3%.

The good vibes come despite a drop in in-park per-capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant signed a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down about 52% year to date.

markets

9/12/25

Rivian turns red on the year, squeezed by a recall and the looming end of the EV tax credit

Shares of EV maker Rivian are down more than 5% on Friday following the company’s recall of 24,214 vehicles due to a software issue. The stock move erases Rivian’s year-to-date gain and turns the company negative on the year.

Rivian’s 2025 model year R1S and R1T are affected by the defect, which was identified after a vehicle’s hands-free highway assist software failed to identify another vehicle on the road, causing a low-speed collision. Rivian said it’s released an over-the-air update to fix the issue.

The recall marks Rivian’s fifth this year, affecting nearly 70,000 of its vehicles.

Rivian’s shares are down more than 20% from their 2025 high, which came prior to the passage of President Trump’s “big, beautiful bill.” Through the legislation, the $7,500 EV tax credit is set to expire at the end of the month.

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