Last Friday, rumours had it that SMCI is going to apply for extension to submit its financial statements. Immediately speculator jumped in to buy up the share, with SMCI ending Friday upped +3.16% to $18.58 per share, a far cry from its peak of $118.81 (scored in March 2024).
It will be difficult to convince the other Big 3 Accounting firm to take a chance on SMCI especially its Management team that have resulted in all these underlying mal-accounting practices happening to a "great" company.
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