BUZZ-Super Micro up after filing plan with Nasdaq to avoid delisting

Reuters11-19 06:16

** Shares of AI server maker Super Micro Computer up ~15% at $24.80 in extended trade

** Co submits plan with the Nasdaq requesting additional time to regain compliance and names BDO USA as its independent auditor, effective immediately

** Stock closed up 15.9% on Monday; Barron's reported on Friday that the company intends to file a plan with Nasdaq to avoid delisting

** Super Micro says in compliance plan it will be able to complete its annual report for the year ended June 30 and its quarterly report ended Sept. 30

** Co said last week it would delay filing its financial reports as it seeks a new auditor after Ernst & Young's resignation in October

** As of last close, SMCI down ~34% YTD

(Reporting by Juveria Tabassum in Bengaluru)

((Juveria.Tabassum@thomsonreuters.com))

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