Wondering where Super Micro Computer’s stock is heading? It might be helpful to look at the shares’ journey to this moment.The stock market tends to have a short memory, focusing more on the future than the past.

Shares of Super Micro Computer (SMCI) hit a new 52-week low on Thursday morning as the AI-focused hardware company struggles with filing its quarterly report (Form 10-Q) for the period ending September 30.

Super Micro shares are down more than 80% since the company joined the S&P 500 in March. That poor performance could catch the eye of the index committee, an expert said.