BUZZ-Super Micro to issue Q2 update next week; stock rises

** Super Micro SMCI.O gains 6.2% to $28.50 premarket

** AI server maker says it will share Q2 business update on Feb. 11

** Expects net sales of $5.5 bln-$6.1 bln, almost in line with analysts' estimate of $5.9 bln, according to LSEG data

** On Dec. 2, 2024, SMCI said its independent committee review found no evidence of fraud/misconduct on the management's part

** Days later co got extension until Feb. 25 from Nasdaq to file delayed annual and quarterly reports

** Stock has halved in value over past 12 months, jeopardising its place on S&P 500 index .SPX

** Co was last valued at $15.8 bln, below SPX's minimum listing requirement of $20.5 bln

** Stock booted out of Nasdaq 100 index .NDX in mid-December, 2024

** About 16.2% of SMCI's free float is in short position - Ortex data