Why Super Micro Computer Stock Jumped in November and Could Soar Even Higher

Motley Fool12-03 22:10

Supermicro has been under fire since August. The findings just released from an independent special committee may have marked a bottom in the stock. The company still has work to do to...

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Guavaxf30
09:02
Guavaxf30
The concern from the market still exist. The findings of no wrong-doing was conducted by an internal team. Much will depend of what the new external auditors reports later. But if they confirmedthe same finding of no wrong-doing, there will likely be much upside for SMCI.

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It's been a somewhat hectic time for the supplier of artificial intelligence (AI) server stacks and coolant systems. Yet if all the concerns turn out to be less impactful than many investors have feared, there could be much more upside for these shares, too.The big recovery in Supermicro shares started with a 12.1% gain over the month of November, according to data provided by S&P Global Market Intelligence. But it didn't stop there. In just the first two trading days of December, the stock has surged more than another 30%. And it may not be done yet.Investors panic over accounting questionsThat massive move didn't mean the stock has fully recovered from the panic selling that preceded it, though. While a recovery is underway, it's still down by more than 45% over the last six months. Here's a brief summary of what caused the stock to plunge: Short-seller firm Hindenburg research released a report in late August accusing Supermicro's management of accounting manipulation, export control failures, and other business culture issues.Supermicro immediately followed that with a delay in filing its 10-K annual report for its fiscal 2024 period ended June 30, 2024.The company received a noncompliance letter from the Nasdaq Stock Market.Supermicro's auditor resigned in late October after raising concerns months earlier.Supermicro released initial results from an independent special committee on Nov. 5 finding \"no evidence of fraud or misconduct on the part of management or the board of directors.\"The company filed a compliance plan with Nasdaq and named a new auditor on Nov. 18.The special committee released details of its completed review on Dec. 2 supporting preliminary findings, and noting that no restatement of previously reported financial results is expected.The result has been a sense of investor relief bringing buyers back into the heavily shorted stock. And that momentum may not yet have run its course. About 17.5% of the company's stock float was shorted as of mid-November, according to MarketWatch. But investors should realize that the ongoing short squeeze will come to an end, and the focus will need to be back on the business itself.Supermicro has more work to doThe company plans to adopt several recommendations from the special committee. Those include hiring a new chief financial officer (CFO), a chief compliance officer, and general counsel. It also will begin a program for continuous improvements in its financial controls and compliance processes.One question that remains unanswered is how much the underlying business has been affected by the situation. The company has released preliminary forward revenue estimates that, while short of prior guidance, still indicated very strong year-over-year sales growth.But until those figures are confirmed, Supermicro stock remains risky, and still may not be the place for more conservative investors.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":377833994383552,"gmtCreate":1733274153075,"gmtModify":1733274157691,"author":{"id":"3576140222331577","authorId":"3576140222331577","name":"Guavaxf30","avatar":"https://static.tigerbbs.com/1ff15ff6aa254c9130f9af922f7e2447","vip":1,"crmLevel":9,"crmLevelSwitch":1,"idStr":"3576140222331577","authorIdStr":"3576140222331577"},"htmlText":"The concern from the market still exist. The findings of no wrong-doing was conducted by an internal team. Much will depend of what the new external auditors reports later. But if they confirmedthe same finding of no wrong-doing, there will likely be much upside for SMCI.","listText":"The concern from the market still exist. The findings of no wrong-doing was conducted by an internal team. Much will depend of what the new external auditors reports later. But if they confirmedthe same finding of no wrong-doing, there will likely be much upside for SMCI.","text":"The concern from the market still exist. The findings of no wrong-doing was conducted by an internal team. Much will depend of what the new external auditors reports later. But if they confirmedthe same finding of no wrong-doing, there will likely be much upside for SMCI.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/377833994383552","repostId":2488413909,"repostType":2,"repost":{"id":"2488413909","kind":"highlight","pubTimestamp":1733235000,"share":"https://ttm.financial/m/news/2488413909?lang=&edition=fundamental","pubTime":"2024-12-03 22:10","market":"fut","language":"en","title":"Why Super Micro Computer Stock Jumped in November and Could Soar Even Higher","url":"https://stock-news.laohu8.com/highlight/detail?id=2488413909","media":"Motley Fool","summary":"The findings just released from an independent special committee may have marked a bottom in the stock.The company still has work to do to prove its business can continue growing.","content":"<html><body><ul>\n<li>\n<div>\n<svg fill=\"none\" height=\"15\" viewbox=\"0 0 14 15\" width=\"14\" xmlns=\"http://www.w3.org/2000/svg\">\n<path d=\"M14 5.58984C14 2.91016 11.8398 0.75 9.16016 0.75C6.50781 0.777344 4.375 2.91016 4.375 5.5625C4.375 6.10938 4.45703 6.60156 4.59375 7.09375L0.191406 11.4961C0.0546875 11.6328 0 11.7969 0 11.9609V14.0938C0 14.4766 0.273438 14.75 0.65625 14.75H3.71875C4.07422 14.75 4.375 14.4766 4.375 14.0938V13H5.46875C5.82422 13 6.125 12.7266 6.125 12.3438V11.25H7.13672C7.30078 11.25 7.51953 11.168 7.62891 11.0312L8.28516 10.293C8.55859 10.3477 8.85938 10.375 9.1875 10.375C11.8398 10.375 14 8.24219 14 5.58984ZM9.1875 4.25C9.1875 3.53906 9.76172 2.9375 10.5 2.9375C11.2109 2.9375 11.8125 3.53906 11.8125 4.25C11.8125 4.98828 11.2109 5.5625 10.5 5.5625C9.76172 5.5625 9.1875 4.98828 9.1875 4.25Z\" fill=\"#FFB81C\"></path>\n</svg>\n</div>\n<div>Supermicro has been under fire since August. </div>\n</li>\n<li>\n<div>\n<svg fill=\"none\" height=\"15\" viewbox=\"0 0 14 15\" width=\"14\" xmlns=\"http://www.w3.org/2000/svg\">\n<path d=\"M14 5.58984C14 2.91016 11.8398 0.75 9.16016 0.75C6.50781 0.777344 4.375 2.91016 4.375 5.5625C4.375 6.10938 4.45703 6.60156 4.59375 7.09375L0.191406 11.4961C0.0546875 11.6328 0 11.7969 0 11.9609V14.0938C0 14.4766 0.273438 14.75 0.65625 14.75H3.71875C4.07422 14.75 4.375 14.4766 4.375 14.0938V13H5.46875C5.82422 13 6.125 12.7266 6.125 12.3438V11.25H7.13672C7.30078 11.25 7.51953 11.168 7.62891 11.0312L8.28516 10.293C8.55859 10.3477 8.85938 10.375 9.1875 10.375C11.8398 10.375 14 8.24219 14 5.58984ZM9.1875 4.25C9.1875 3.53906 9.76172 2.9375 10.5 2.9375C11.2109 2.9375 11.8125 3.53906 11.8125 4.25C11.8125 4.98828 11.2109 5.5625 10.5 5.5625C9.76172 5.5625 9.1875 4.98828 9.1875 4.25Z\" fill=\"#FFB81C\"></path>\n</svg>\n</div>\n<div>The findings just released from an independent special committee may have marked a bottom in the stock. </div>\n</li>\n<li>\n<div>\n<svg fill=\"none\" height=\"15\" viewbox=\"0 0 14 15\" width=\"14\" xmlns=\"http://www.w3.org/2000/svg\">\n<path d=\"M14 5.58984C14 2.91016 11.8398 0.75 9.16016 0.75C6.50781 0.777344 4.375 2.91016 4.375 5.5625C4.375 6.10938 4.45703 6.60156 4.59375 7.09375L0.191406 11.4961C0.0546875 11.6328 0 11.7969 0 11.9609V14.0938C0 14.4766 0.273438 14.75 0.65625 14.75H3.71875C4.07422 14.75 4.375 14.4766 4.375 14.0938V13H5.46875C5.82422 13 6.125 12.7266 6.125 12.3438V11.25H7.13672C7.30078 11.25 7.51953 11.168 7.62891 11.0312L8.28516 10.293C8.55859 10.3477 8.85938 10.375 9.1875 10.375C11.8398 10.375 14 8.24219 14 5.58984ZM9.1875 4.25C9.1875 3.53906 9.76172 2.9375 10.5 2.9375C11.2109 2.9375 11.8125 3.53906 11.8125 4.25C11.8125 4.98828 11.2109 5.5625 10.5 5.5625C9.76172 5.5625 9.1875 4.98828 9.1875 4.25Z\" fill=\"#FFB81C\"></path>\n</svg>\n</div>\n<div>The company still has work to do to prove its business can continue growing. </div>\n</li>\n</ul><div><p><strong>Super Micro Computer</strong> <span>(SMCI<span> 8.52%</span>)</span> stock had a big November and has begun December with a bang. It's been a somewhat hectic time for the supplier of artificial intelligence (AI) server stacks and coolant systems. Yet if all the concerns turn out to be less impactful than many investors have feared, there could be much more upside for these shares, too.</p><p>The big recovery in Supermicro shares started with a 12.1% gain over the month of November, according to data provided by <span>S&amp;P Global Market Intelligence</span>. But it didn't stop there. In just the first two trading days of December, the stock has surged more than another 30%. And it may not be done yet.</p><div><app :collapse_on_load=\"false\" :instrument_id=\"210117\" :show_benchmark_compare=\"false\" amount_change=\"3.58\" average_volume=\"80,467,355\" company_name=\"Super Micro Computer\" current_price=\"45.58\" daily_high=\"45.60\" daily_low=\"42.67\" default_period=\"OneMonth\" dividend_yield=\"N/A\" exchange=\"NASDAQ\" fifty_two_week_high=\"122.90\" fifty_two_week_low=\"17.25\" gross_margin=\"14.33\" logo=\"https://g.foolcdn.com/art/companylogos/mark/SMCI.png\" market_cap=\"$25B\" pe_ratio=\"21.10\" percent_change=\"8.52\" symbol=\"SMCI\" volume=\"52,023,575\"></app></div><h2>Investors panic over accounting questions</h2><p>That massive move didn't mean the stock has fully recovered from the panic selling that preceded it, though. While a recovery is underway, it's still down by more than 45% over the last six months. Here's a brief summary of what caused the stock to plunge: </p><ul><li>Short-seller firm Hindenburg research released a report in late August accusing Supermicro's management of accounting manipulation, export control failures, and other business culture issues.</li><li>Supermicro immediately followed that with a delay in filing its 10-K annual report for its fiscal 2024 period ended June 30, 2024.</li><li>The company received a noncompliance letter from the Nasdaq Stock Market.</li><li>Supermicro's auditor resigned in late October after raising concerns months earlier.</li><li>Supermicro released initial results from an independent special committee on Nov. 5 finding \"no evidence of fraud or misconduct on the part of management or the board of directors.\"</li><li>The company filed a compliance plan with Nasdaq and named a new auditor on Nov. 18.</li><li>The special committee released details of its completed review on Dec. 2 supporting preliminary findings, and noting that no restatement of previously reported financial results is expected.</li></ul><p>The result has been a sense of investor relief bringing buyers back into the heavily shorted stock. And that momentum may not yet have run its course. About 17.5% of the company's stock float was shorted as of mid-November, according to MarketWatch. But investors should realize that the ongoing short squeeze will come to an end, and the focus will need to be back on the business itself.</p><h2>Supermicro has more work to do</h2><p>The company plans to adopt several recommendations from the special committee. Those include hiring a new chief financial officer (CFO), a chief compliance officer, and general counsel. It also will begin a program for continuous improvements in its financial controls and compliance processes.</p><div><div><div></div></div></div><p>One question that remains unanswered is how much the underlying business has been affected by the situation. The company has released preliminary forward revenue estimates that, while short of prior guidance, still indicated very strong year-over-year sales growth.</p><p>But until those figures are confirmed, Supermicro stock remains risky, and still may not be the place for more conservative investors.</p><div></div></div></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Super Micro Computer Stock Jumped in November and Could Soar Even Higher</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Super Micro Computer Stock Jumped in November and Could Soar Even Higher\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-03 22:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2024/12/03/why-super-micro-computer-stock-jumped-in-november/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Supermicro has been under fire since August. \n\n\n\n\n\n\n\nThe findings just released from an independent special committee may have marked a bottom in the stock. \n\n\n\n\n\n\n\nThe company still has work to do to...</p>\n\n<a href=\"https://www.fool.com/investing/2024/12/03/why-super-micro-computer-stock-jumped-in-november/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F799622%2Fstock-markets-rising.jpg&op=resize&w=165&h=104","relate_stocks":{"SMCI":"超微电脑","BK4170":"电脑硬件、储存设备及电脑周边","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","BK4585":"ETF&股票定投概念","CFO":"VictoryShares US 500 Enhanced Volatility Wtd ETF","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","BK4588":"碎股"},"source_url":"https://www.fool.com/investing/2024/12/03/why-super-micro-computer-stock-jumped-in-november/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2488413909","content_text":"Supermicro has been under fire since August. \n\n\n\n\n\n\n\nThe findings just released from an independent special committee may have marked a bottom in the stock. \n\n\n\n\n\n\n\nThe company still has work to do to prove its business can continue growing. \n\nSuper Micro Computer (SMCI 8.52%) stock had a big November and has begun December with a bang. It's been a somewhat hectic time for the supplier of artificial intelligence (AI) server stacks and coolant systems. Yet if all the concerns turn out to be less impactful than many investors have feared, there could be much more upside for these shares, too.The big recovery in Supermicro shares started with a 12.1% gain over the month of November, according to data provided by S&P Global Market Intelligence. But it didn't stop there. In just the first two trading days of December, the stock has surged more than another 30%. And it may not be done yet.Investors panic over accounting questionsThat massive move didn't mean the stock has fully recovered from the panic selling that preceded it, though. While a recovery is underway, it's still down by more than 45% over the last six months. Here's a brief summary of what caused the stock to plunge: Short-seller firm Hindenburg research released a report in late August accusing Supermicro's management of accounting manipulation, export control failures, and other business culture issues.Supermicro immediately followed that with a delay in filing its 10-K annual report for its fiscal 2024 period ended June 30, 2024.The company received a noncompliance letter from the Nasdaq Stock Market.Supermicro's auditor resigned in late October after raising concerns months earlier.Supermicro released initial results from an independent special committee on Nov. 5 finding \"no evidence of fraud or misconduct on the part of management or the board of directors.\"The company filed a compliance plan with Nasdaq and named a new auditor on Nov. 18.The special committee released details of its completed review on Dec. 2 supporting preliminary findings, and noting that no restatement of previously reported financial results is expected.The result has been a sense of investor relief bringing buyers back into the heavily shorted stock. And that momentum may not yet have run its course. About 17.5% of the company's stock float was shorted as of mid-November, according to MarketWatch. But investors should realize that the ongoing short squeeze will come to an end, and the focus will need to be back on the business itself.Supermicro has more work to doThe company plans to adopt several recommendations from the special committee. Those include hiring a new chief financial officer (CFO), a chief compliance officer, and general counsel. It also will begin a program for continuous improvements in its financial controls and compliance processes.One question that remains unanswered is how much the underlying business has been affected by the situation. The company has released preliminary forward revenue estimates that, while short of prior guidance, still indicated very strong year-over-year sales growth.But until those figures are confirmed, Supermicro stock remains risky, and still may not be the place for more conservative investors.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2488413909"}