Super Micro Shares Drop 9% Despite Strong Earnings as Company Announces Stock Offering

Super Micro Computer shares plunged 9% on Tuesday after announcing a new stock offering of 2 million additional shares
The company said the offering is to raise capital for inventory, working capital, manufacturing expansions, and R&D
Super Micro has been one of the winners from the AI investing craze, with its stock up 252% this year and 824% in the past 12 months
The stock sell-off came after Super Micro delivered a strong earnings beat for the December quarter on January 29
Even with the decline, Super Micro ranks highly on IBD stock lists like Big Cap 20 and Tech Leaders