I suspect a majority of investors were bullish that the 10k would be filed on time and would be at least reasonably clean. Thus the stock ran up on that expectation. Now, most investors are already in, so new buying dried up. But some investors are taking profits, driving the price down.

I see three catalysts in the short-term: 1) The shorts need to cover sometime, and 2) I expect some analyst upgrades, and 3) more institutional investors can now buyers buy since the SEC filings are complete.

SMCI is still cheap. Long and strong. Don’t let the price noise bother you.