Super Micro Shares Turn Negative for 2024 After Auditor Resignation

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Super Micro Shares Turn Negative for 2024 After Auditor Resignation

Bloomberg10-31

The one-time AI favorite more than quadrupled early this yearArgus downgraded the shares following the auditor newsSuper Micro Computer Inc. shares turned negative for the year on Thursday, as ...

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Merdeka1981
·11-01
I'm very sure I'm not going to invest in this company, but I think it is still tradeable. How about I buy a far out of the money put? Coz each time something like that is reported, the stock crashes big time. I might just have a chance at winning this "lottery ticket" if I pick the right put option.
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- Sandyboy:
  Haha try. After the first crash I thought 25 was far and bought puts only to be burnt when stick hit 20~21
  11-07
  Reply
  Report
- InverseCramer:
  Great strategy
  11-01
  Reply
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nywles
·11-01
Thanks
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Earlier this year, a short seller alleged accounting problems at Super Micro, and the company subsequently delayed a 10-K filing, saying it needed more time to assess its internal controls.Argus Research downgraded the stock to hold from buy on Thursday, writing that the company’s loss of its auditing firm and a US Department of Justice probe “mean that the stock no longer trades on fundamentals.”Still, analyst Jim Kelleher remains positive on the company’s long-term prospects, and “will look to get SMCI back on the BUY list once the company engages with a new accounting firm, becomes timely on its filings, and resolves all matters before the DoJ.”","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":366293600850112,"gmtCreate":1730435460577,"gmtModify":1730446713991,"author":{"id":"4102568791638160","authorId":"4102568791638160","name":"Merdeka1981","avatar":"https://community-static.tradeup.com/news/370fc16a4d1090b47fe92034808ebbdd","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"4102568791638160","idStr":"4102568791638160"},"htmlText":"I'm very sure I'm not going to invest in this company, but I think it is still tradeable. 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I might just have a chance at winning this \"lottery ticket\" if I pick the right put option.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/366293600850112","repostId":1113776215,"repostType":2,"repost":{"id":"1113776215","pubTimestamp":1730389570,"share":"https://ttm.financial/m/news/1113776215?lang=&edition=fundamental","pubTime":"2024-10-31 23:46","market":"us","language":"en","title":"Super Micro Shares Turn Negative for 2024 After Auditor Resignation","url":"https://stock-news.laohu8.com/highlight/detail?id=1113776215","media":"Bloomberg","summary":"The one-time AI favorite more than quadrupled early this yearArgus downgraded the shares following the auditor newsSuper Micro Computer Inc. shares turned negative for the year on Thursday, as cascadi","content":"<html><head></head><body><ul style=\"\"><li><p>The one-time AI favorite more than quadrupled early this year</p></li><li><p>Argus downgraded the shares following the auditor news</p></li></ul><p>Super Micro Computer Inc. shares turned negative for the year on Thursday, as cascading concerns about the server maker’s finances continued to weigh on the stock.</p><p>Shares fell 16% on Thursday, building on the previous session’s slump of about 33%. The week’s selloff came after Ernst &amp; Young LLP resigned as the company’s auditor, citing concerns about governance and transparency.</p><p>The stock had previously risen more than 300% to hit a peak in March of this year, making it one of the most prominent winners of investments in infrastructure related to artificial intelligence. It has now lost all of that advance, tumbling by more than 75% since the March peak.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/eda458eb5ffaa507ab3c3cee89bb969f\" tg-width=\"1200\" tg-height=\"675\"/></p><p style=\"text-align: start;\">The auditor news is the latest red flag for the stock. Earlier this year, a short seller alleged accounting problems at Super Micro, and the company subsequently delayed a 10-K filing, saying it needed more time to assess its internal controls.</p><p>Argus Research downgraded the stock to hold from buy on Thursday, writing that the company’s loss of its auditing firm and a US Department of Justice probe “mean that the stock no longer trades on fundamentals.”</p><p style=\"text-align: start;\">Still, analyst Jim Kelleher remains positive on the company’s long-term prospects, and “will look to get SMCI back on the BUY list once the company engages with a new accounting firm, becomes timely on its filings, and resolves all matters before the DoJ.”</p></body></html>","source":"lsy1584095487587","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>Super Micro Shares Turn Negative for 2024 After Auditor Resignation</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\">\nSuper Micro Shares Turn Negative for 2024 After Auditor Resignation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-31 23:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-10-31/super-micro-turns-negative-for-2024-after-auditor-resignation><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The one-time AI favorite more than quadrupled early this yearArgus downgraded the shares following the auditor newsSuper Micro Computer Inc. shares turned negative for the year on Thursday, as ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-10-31/super-micro-turns-negative-for-2024-after-auditor-resignation\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SMCI":"超微电脑"},"source_url":"https://www.bloomberg.com/news/articles/2024-10-31/super-micro-turns-negative-for-2024-after-auditor-resignation","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113776215","content_text":"The one-time AI favorite more than quadrupled early this yearArgus downgraded the shares following the auditor newsSuper Micro Computer Inc. shares turned negative for the year on Thursday, as cascading concerns about the server maker’s finances continued to weigh on the stock.Shares fell 16% on Thursday, building on the previous session’s slump of about 33%. The week’s selloff came after Ernst & Young LLP resigned as the company’s auditor, citing concerns about governance and transparency.The stock had previously risen more than 300% to hit a peak in March of this year, making it one of the most prominent winners of investments in infrastructure related to artificial intelligence. It has now lost all of that advance, tumbling by more than 75% since the March peak.The auditor news is the latest red flag for the stock. Earlier this year, a short seller alleged accounting problems at Super Micro, and the company subsequently delayed a 10-K filing, saying it needed more time to assess its internal controls.Argus Research downgraded the stock to hold from buy on Thursday, writing that the company’s loss of its auditing firm and a US Department of Justice probe “mean that the stock no longer trades on fundamentals.”Still, analyst Jim Kelleher remains positive on the company’s long-term prospects, and “will look to get SMCI back on the BUY list once the company engages with a new accounting firm, becomes timely on its filings, and resolves all matters before the DoJ.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":368298156290224,"gmtCreate":1730934295131,"gmtModify":1730934299862,"authorId":4096961999981430,"author":{"id":4096961999981430,"idStr":"4096961999981430","authorId":4096961999981430,"name":"Sandyboy","avatar":"https://community-static.tradeup.com/news/c0493c8f653046dcb6adcd04d9fbd091","vip":1,"currentWearingBadge":{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.06.08","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1102},"crmLevel":8,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":366293600850112,"type":1,"supId":0,"prevId":0,"content":"Haha try. After the first crash I thought 25 was far and bought puts only to be burnt when stick hit 20~21","text":"Haha try. After the first crash I thought 25 was far and bought puts only to be burnt when stick hit 20~21","html":"Haha try. After the first crash I thought 25 was far and bought puts only to be burnt when stick hit 20~21"},{"id":366449758675176,"gmtCreate":1730473690768,"gmtModify":1730473696179,"authorId":3574136058061437,"author":{"id":3574136058061437,"idStr":"3574136058061437","authorId":3574136058061437,"name":"InverseCramer","avatar":"https://static.tigerbbs.com/fc405e9f366cb34e826787dc45d36977","vip":1,"currentWearingBadge":{"badgeId":"23f878ed27704312ae41c7f17e73b319-5","templateUuid":"23f878ed27704312ae41c7f17e73b319","name":"Annualised return","description":"Top 5%","bigImgUrl":"https://community-static.tradeup.com/news/28b025635697d2f8cba3e94ec9f33231","smallImgUrl":"https://community-static.tradeup.com/news/b9d0f04877ffafa61d3f0d06efb58d87","grayImgUrl":"https://community-static.tradeup.com/news/0b3045db9a2ba37916c82e771c62bd6c","redirectLinkEnabled":0,"redirectLink":"https://www.tigerbrokers.com.sg/activity/market/2023/stock-contest?adcode=StockContest2023","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.03.07","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":5300},"crmLevel":7,"crmLevelSwitch":1,"individualDisplayBadges":[{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Have published 3 or more picked posts, and have published at least one picked post and participated in comments within 30 days","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":0,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.11.13","individualDisplayEnabled":1,"backgroundColor":{"dark":"#675a37","tint":"#f9ebc2"},"fontColor":{"dark":"#ffffff","tint":"#ab7a0e"},"individualDisplaySort":0,"categoryType":2007}]},"repliedAuthorId":0,"objectId":366293600850112,"type":1,"supId":0,"prevId":0,"content":"Great strategy","text":"Great strategy","html":"Great strategy"}],"langContent":"EN"},{"id":366241727287416,"gmtCreate":1730415054287,"gmtModify":1730415056585,"author":{"id":"3555362771681553","authorId":"3555362771681553","name":"nywles","avatar":"https://static.tigerbbs.com/a7e6473ec2cec348d167d7d95fbdb76c","vip":1,"crmLevel":7,"crmLevelSwitch":0,"authorIdStr":"3555362771681553","idStr":"3555362771681553"},"htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/366241727287416","repostId":1113776215,"repostType":2,"repost":{"id":"1113776215","pubTimestamp":1730389570,"share":"https://ttm.financial/m/news/1113776215?lang=&edition=fundamental","pubTime":"2024-10-31 23:46","market":"us","language":"en","title":"Super Micro Shares Turn Negative for 2024 After Auditor Resignation","url":"https://stock-news.laohu8.com/highlight/detail?id=1113776215","media":"Bloomberg","summary":"The one-time AI favorite more than quadrupled early this yearArgus downgraded the shares following the auditor newsSuper Micro Computer Inc. shares turned negative for the year on Thursday, as cascadi","content":"<html><head></head><body><ul style=\"\"><li><p>The one-time AI favorite more than quadrupled early this year</p></li><li><p>Argus downgraded the shares following the auditor news</p></li></ul><p>Super Micro Computer Inc. shares turned negative for the year on Thursday, as cascading concerns about the server maker’s finances continued to weigh on the stock.</p><p>Shares fell 16% on Thursday, building on the previous session’s slump of about 33%. The week’s selloff came after Ernst &amp; Young LLP resigned as the company’s auditor, citing concerns about governance and transparency.</p><p>The stock had previously risen more than 300% to hit a peak in March of this year, making it one of the most prominent winners of investments in infrastructure related to artificial intelligence. It has now lost all of that advance, tumbling by more than 75% since the March peak.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/eda458eb5ffaa507ab3c3cee89bb969f\" tg-width=\"1200\" tg-height=\"675\"/></p><p style=\"text-align: start;\">The auditor news is the latest red flag for the stock. Earlier this year, a short seller alleged accounting problems at Super Micro, and the company subsequently delayed a 10-K filing, saying it needed more time to assess its internal controls.</p><p>Argus Research downgraded the stock to hold from buy on Thursday, writing that the company’s loss of its auditing firm and a US Department of Justice probe “mean that the stock no longer trades on fundamentals.”</p><p style=\"text-align: start;\">Still, analyst Jim Kelleher remains positive on the company’s long-term prospects, and “will look to get SMCI back on the BUY list once the company engages with a new accounting firm, becomes timely on its filings, and resolves all matters before the DoJ.”</p></body></html>","source":"lsy1584095487587","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>Super Micro Shares Turn Negative for 2024 After Auditor Resignation</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\">\nSuper Micro Shares Turn Negative for 2024 After Auditor Resignation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-31 23:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-10-31/super-micro-turns-negative-for-2024-after-auditor-resignation><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The one-time AI favorite more than quadrupled early this yearArgus downgraded the shares following the auditor newsSuper Micro Computer Inc. shares turned negative for the year on Thursday, as ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-10-31/super-micro-turns-negative-for-2024-after-auditor-resignation\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SMCI":"超微电脑"},"source_url":"https://www.bloomberg.com/news/articles/2024-10-31/super-micro-turns-negative-for-2024-after-auditor-resignation","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113776215","content_text":"The one-time AI favorite more than quadrupled early this yearArgus downgraded the shares following the auditor newsSuper Micro Computer Inc. shares turned negative for the year on Thursday, as cascading concerns about the server maker’s finances continued to weigh on the stock.Shares fell 16% on Thursday, building on the previous session’s slump of about 33%. The week’s selloff came after Ernst & Young LLP resigned as the company’s auditor, citing concerns about governance and transparency.The stock had previously risen more than 300% to hit a peak in March of this year, making it one of the most prominent winners of investments in infrastructure related to artificial intelligence. It has now lost all of that advance, tumbling by more than 75% since the March peak.The auditor news is the latest red flag for the stock. Earlier this year, a short seller alleged accounting problems at Super Micro, and the company subsequently delayed a 10-K filing, saying it needed more time to assess its internal controls.Argus Research downgraded the stock to hold from buy on Thursday, writing that the company’s loss of its auditing firm and a US Department of Justice probe “mean that the stock no longer trades on fundamentals.”Still, analyst Jim Kelleher remains positive on the company’s long-term prospects, and “will look to get SMCI back on the BUY list once the company engages with a new accounting firm, becomes timely on its filings, and resolves all matters before the DoJ.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":9,"commentSize":2,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}