Super Micro Computer Inc. ( SMCI ) stock gained 1.30% in premarket trading on Wednesday, according to Benzinga Pro data.

This comes after a challenging period marked by SMCI’s removal from the Nasdaq-100 Index. This removal, scheduled for Dec. 23, has been announced just months after the company had been added to the index.

The Nasdaq-100 Index includes 100 of the largest non-financial companies on the Nasdaq stock market.

See Also: Bitcoin, Ethereum, Dogecoin Stay Muted Before Fed’s Interest Rate Decision: Analyst Says BTC In Parabolic Phase, Reveals Its Duration

The removal was prompted by the stock trading below its 50-day moving average, a key indicator of its performance. This development placed SMCI alongside other companies like Illumina Inc. and Moderna Inc., which also faced similar challenges.

In contrast, companies such as Palantir Technologies Inc., MicroStrategy Inc., and Axon Enterprise Inc. were added to the index, replacing those removed.

Price Action: SMCI stock closed at $33.80 on Tuesday, ending 1.1% up for the day. Year-to-date, the stock is up 18.4%, according to Benzinga Pro data.

Read Next: 

Crypto Analyst: Shiba Inu Price Set For Massive Surge, Could Go Up Sixfold

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Image via Shutterstock