Super Micro Computer: Time And Patience Are Running Thin (Rating Downgrade)
SummarySuper Micro faces renewed concerns over its corporate governance framework as EY resigned as its auditor.The auditor highlighted that it was "unwilling to be associated with the financial statements prepared by management."SMCI will report its Q1FY2025 business update on November 5. I expect it to be an intense session.Investors and analysts have bailed out, as SMCI crashed more than 30% yesterday. Since its March 2024 peak, the stock is down nearly 75%.I highlight why the time and patien