Stock Track | Super Micro Computer Plunges 6.23% After-Hours as Auditor Resigns, Filings Delayed

Stock Track12-14

Super Micro Computer Inc's stock plunged 6.23% in after-hours trading on Friday, following a tumultuous week where shares declined nearly 17% amid auditor controversies and concerns over delayed financial filings.

The company's woes stem from the resignation of Ernst & Young as its auditor, citing a lack of confidence in Super Micro's financial statements. While an independent investigation cleared the company of fraud allegations, investors remain skeptical as Super Micro now faces a February 25 deadline to file overdue earnings reports to avoid potential delisting from the Nasdaq.

Adding to the pressure, Super Micro is likely to be removed from the Nasdaq 100 index, further dampening sentiment around the stock. Despite its innovative AI server solutions and robust revenue projections, the company's recent accounting issues and management challenges have raised concerns among investors, causing shares to plummet from a record high of $119 in March to just $37 today.

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Comments

  • Wildhorseusa
    12-16
    Wildhorseusa
    Why do you post a message with a old news?
  • Guavaxf30
    12-16
    Guavaxf30
    Old news apart from the warning about removal from Nasdaq 100, which all are expecting anyway.  Likely to see some knee jerk sell-down early today and possibly some rebound after.
  • SamaSean
    12-16
    SamaSean
    This adds nothing. Stop wasting our time.
  • HermanL
    12-16
    HermanL
    recycling news.
  • LeonardKSW
    12-15
    LeonardKSW
    Keep repeating saying old stories..nothing to comment please shutup
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