Stock Track | Super Micro Computer Soars 5.1% After-Hours on Regaining Nasdaq Compliance Plan

Stock Track06:36

Super Micro Computer Inc. (SMCI) shares soared 5.1% in after-hours trading on Wednesday, following the company's submission of a plan to regain compliance with the Nasdaq stock exchange listing requirements.

The server solutions provider has been facing challenges with delayed financial filings and compliance issues, leading to concerns about potential delisting from the Nasdaq. However, the company took a crucial step this week by hiring a new auditor and submitting a plan to address the compliance requirements.

According to the reports, Super Micro Computer aims to complete its forms for the fiscal year ended in June, as well as the third quarter, which had been delayed. Failure to file these forms on time had put the company at risk of being delisted from the Nasdaq exchange.

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