On October 30, 2024, Monolithic Power reported that quarterly revenue within its Enterprise Data business declined sequentially to $184 million (down from $187 million in the prior quarter), missing consensus estimates of $211 million by nearly 13%. On this news, the price of Monolithic Power shares fell more than $160 per share, or more than 17%, from a close of $919.81 per share on October 30, 2024 to a close of $759.30 per share on October 31, 2024.

Then, on November 11, 2024, Edgewater Research published a report revealing that Nvidia had cancelled half of its outstanding Monolithic Power orders and intended to eliminate Monolithic Power products in its next-generation Blackwell chips due to “[p]erformance issues.” The report further disclosed that Nvidia had “lost confidence” in Monolithic Power and had decided to turn to other suppliers.

On this news, the price of Monolithic Power shares fell $114 per share, or 15%, from a closing price of $761.30 per share on November 8, 2024 to a close of $647.31 per share on November 11, 2024.

Investors who purchased or acquired Monolithic Power securities between February 8, 2024 through November 8, 2024, may no later than April 7, 2025, seek to be appointed as a lead plaintiff representative of the class.