Wall Street Breakfast Super Micro clears misconduct cloud
Dec 3, 2024
A recent internal review clears Super Micro of any misconduct, leading to a surge in their stock price and a CFO replacement. Meanwhile, SpaceX is considering a tender offer that could elevate its valuation to an astonishing $350 billion. Cheetah Net Supply Chain is making moves to acquire TW & EW, signaling further market consolidation. The podcast also touches on the economic landscape, including analysts urging a radical shift at Intel with the new CEO.
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Super Micro Cleared
- Super Micro's stock surged 28% after an independent review cleared them of misconduct allegations.
- The review, prompted by auditor resignation, found no financial restatement was necessary.
SpaceX Valuation
- SpaceX is considering a share sale that could value the company at $350 billion.
- This would be a significant increase from previous valuations and make SpaceX the most valuable private startup.
Cheetah Net Acquisition
- Cheetah Net Supply Chain is acquiring TW and EW Services, a logistics provider, for $1 million.
- The deal includes cash and stock, and Cheetah's stock is up 225% pre-market.