$SUPER MICRO COMPUTER INC(SMCI)$
FACT 1: SMCI will NOT be able raise cash or sell debt via the capital markets for the next 12 months.
FACT 2: The SEC (Civil Enforcement) will be forced to open a formal inquiry into SMCI given the prior illicit accounting activity in 2018. The current CEO as well as several other key players that were involved with the 2018 accounting scandal are sitting inside the SMCI Corp in 2024. The DOJ (Criminal Enforcement) will also be taken to task at the Russian business allegations.
FACT 3: The CFO of SMCI unloaded $15 million in November 2023. This fella knows where the improprieties are located. Ironically, he unloaded most of his position.
FACT 4: EY has been shedding clients (80 clients) with lax internal auditing since January 2023. EY onboarded SMCI in July 2023 with a hand off from DT. Within a 12-month period EY has realized the internal auditing at SMCI is not just a few mistakes but a coordinated effort to obfuscate the true numbers to bolster the bottom line. EY has already declined to sign off on a partial 10k submission and will shed SMCI as a client all together given the legal implications to EY.
I am a previous long who got FOMOd above 700...My lack of dd then cost me...SMCI is the canary in the AI coalmine...
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