🌟🌟🌟A listed company like $SUPER MICRO COMPUTER INC(SMCI)$ has a fiduciary duty to its shareholders to be responsible for its accounting matters. That is why when news broke that there are some accounting errors leading to suspicion of accounting manipulation, SMCI share price fell like a rock.
However now that they have appointed another auditor and wants to maintain its listing in the Nasdaq Stock Market, investors are relieved and the share price jumped 39% in after hours trading.
At the current level, SMCI is trading at a deep discount especially when its 52 week high is USD 122.90. Let's hope SMCI get their accounting matters in order soon for the sake of their shareholders.
@Tiger_comments @TigerStars @CaptainTiger
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Comments
Can the stock price really rise just because the accounting issue is resolved? I feel like I've lost confidence.