Stock Track | Super Micro Computer Soars 38% in Pre-Market as Compliance Plan Averts Nasdaq Delisting

Stock Track11-19 17:02

Super Micro Computer Inc. (SMCI) saw its shares skyrocket by a staggering 38.25% in pre-market trading on Tuesday, November 19, amid a surge of investor optimism regarding the company's efforts to maintain its Nasdaq listing.

The soaring stock price followed SMCI's submission of a compliance plan to the Nasdaq Stock Exchange, outlining its strategy to regain adherence with the exchange's listing requirements. The server and data storage provider had been facing mounting pressure after failing to file its annual report on time, prompting Nasdaq to issue a delisting warning in September.

Crucially, SMCI also announced the appointment of BDO USA, a highly respected global accounting firm, as its new independent auditor. This move is seen as a vital step in ensuring the timely completion of SMCI's outstanding financial reports, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024.

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