SMCI Right Triangle

By Tim Knight of Slope Of Hope
Tuesday, August 27, 2024 12:10 PM EDT

Cutout paper illustration representing scheme and Stocks inscription

Image Source: Pexels

I’ve been yammering on and on about SMCI as a terrific short for weeks, and today we get this news:

BREAKING: Super Micro Computer stock, $SMCI, crashes over 8% after Hindenburg research accuses company of accounting manipulation.

Hindenburg claims that their 3-month investigation uncovered accounting red flags.

They are now short of the stock which is down over 50% from its… pic.twitter.com/aX0jY3umSw

— The Kobeissi Letter (@KobeissiLetter) August 27, 2024

That right triangle nailed it!

Isn’t it comic that, near its price peak, the powers that be decided to push this into the hallowed halls of the S&P 500?

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I tilt to the bearish side. Slope of Hope is not, and has never been, a provider of investment advice. So I take absolutely no responsibility for the losses – – or any credit ...

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