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Super Micro Stock Extends Gains, up 47% in Overnight Trading as It Files Plan With Nasdaq to Stay Listed

Beleaguered server maker staves off delisting Super Micro Computer Inc. late Monday said it gave Nasdaq a "compliance plan" to support its request for a filing extension in order to keep its listing,

Super Micro Stock Extends Gains, up 47% in Overnight Trading as It Files Plan With Nasdaq to Stay Listed

# Super Micro Computer's Compliance Plan and Auditor Appointment

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The plan includes completing the annual report for the fiscal year ended June 30 and the quarterly report for the fiscal quarter ended Sept. 30. The company has also appointed BDO USA as its independent auditor. The announcement has led to a 15% increase in Super Micro Computer's shares in extended trading. CEO Charles Liang emphasized the importance of bringing the financial statements current and expressed confidence in BDO's capabilities. The compliance plan follows a delay in filing the annual 10-K report and allegations of accounting manipulation by Hindenburg Research."}],"images":[],"coverImages":[],"html":"<html><head></head><body><p>Breaking news too slow...<span>[Onlooker]&nbsp;</span>&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>Breaking news too slow...<span>[Onlooker]&nbsp;</span>&nbsp;</p></body></html>","text":"Breaking news too slow...[Onlooker]","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/372496737067336","repostId":2484980629,"repostType":2,"repost":{"id":"2484980629","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1732002801,"share":"https://www.laohu8.com/m/news/2484980629?lang=&edition=full","pubTime":"2024-11-19 15:53","market":"nz","language":"en","title":"Super Micro Stock Extends Gains, up 47% in Overnight Trading as It Files Plan With Nasdaq to Stay Listed","url":"https://stock-news.laohu8.com/highlight/detail?id=2484980629","media":"Dow Jones","summary":"Beleaguered server maker staves off delisting Super Micro Computer Inc. late Monday said it gave Nasdaq a \"compliance plan\" to support its request for a filing extension in order to keep its listing, ","content":"<html><head></head><body><p> <a href=\"https://laohu8.com/S/SMCI\">SUPER MICRO COMPUTER INC</a>  has appointed an independent auditor and submitted a plan with Nasdaq to comply with listing requirements.</p><p>Shares of the server maker were sharply higher on Monday as investors awaited the announcement that it had filed that plan.</p><p>Super Micro stock closed 15.9% higher to $21.54 and shot up another 47% in overnight trading.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/bf72c0e38223c454c8fa0564a1ff32c0\" tg-width=\"786\" tg-height=\"436\"/></p><p>In a statement, Super Micro said its board engaged BDO USA, P.C. as its auditor, effective immediately. BDO is a member firm of BDO International.</p><p style=\"text-align: start;\">Charles Liang, Super Micro’s CEO, said the appointment of BDO “is an important next step to bring our financial statements current, an effort we are pursuing with both diligence and urgency.”</p><p>The company also said its plan supports its request for an extension of time to regain compliance with Nasdaq’s requirements. The company said it believes it will be able to complete its annual report for the year ended June 30, 2024, and its quarterly report for the fiscal quarter ended Sept. 30, 2024, and become current with its periodic reports within the discretionary period available to the Nasdaq staff to grant.</p><p style=\"text-align: start;\">Super Micro said its securities will remain listed pending Nasdaq’s review of the plan, citing the exchange’s rules. A person familiar with the matter told <em>Barron’s </em>that it should take the Nasdaq about two weeks to review what has been sent over.</p><p style=\"text-align: start;\"><em>Barron’s</em> has reached out to Nasdaq for comment.</p><p style=\"text-align: start;\">Super Micro has dealt with no end of issues lately. The challenges have ranged from deteriorating profit margins to a short seller report to its former accounting firm resigning.</p><p style=\"text-align: start;\">The company delayed filing its 10-K, or annual report, for the fiscal year ended June 30, as it was required to do to maintain its listing on one of the two major U.S. stock exchanges. Super Micro also delayed the filing of its quarterly 10-Q last week.</p><p>After receiving a letter from the Listing Qualifications Department of the Nasdaq Stock Market on Sept. 17, Super Micro had 60 calendar days to file or submit a plan to the Nasdaq to regain compliance with listing rules. Based on that calculation, the deadline would have been Nov. 16, but because the date fell on a Saturday, there was the possibility of an extension.</p><p style=\"text-align: start;\">A person familiar with the matter told <em>Barron’s</em> last week and confirmed Monday that Super Micro intended to submit a plan by Monday that will allow it to continue to trade on the Nasdaq.</p><p style=\"text-align: start;\">Also Monday, the company also announced its latest lineup of  <a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a>  AI data-center server systems, based on Blackwell graphics processing units.</p><p></p></body></html>","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 Stock Extends Gains, up 47% in Overnight Trading as It Files Plan With Nasdaq to Stay Listed</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; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\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 Stock Extends Gains, up 47% in Overnight Trading as It Files Plan With Nasdaq to Stay Listed\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-19 15:53</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p> <a href=\"https://laohu8.com/S/SMCI\">SUPER MICRO COMPUTER INC</a>  has appointed an independent auditor and submitted a plan with Nasdaq to comply with listing requirements.</p><p>Shares of the server maker were sharply higher on Monday as investors awaited the announcement that it had filed that plan.</p><p>Super Micro stock closed 15.9% higher to $21.54 and shot up another 47% in overnight trading.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/bf72c0e38223c454c8fa0564a1ff32c0\" tg-width=\"786\" tg-height=\"436\"/></p><p>In a statement, Super Micro said its board engaged BDO USA, P.C. as its auditor, effective immediately. BDO is a member firm of BDO International.</p><p style=\"text-align: start;\">Charles Liang, Super Micro’s CEO, said the appointment of BDO “is an important next step to bring our financial statements current, an effort we are pursuing with both diligence and urgency.”</p><p>The company also said its plan supports its request for an extension of time to regain compliance with Nasdaq’s requirements. The company said it believes it will be able to complete its annual report for the year ended June 30, 2024, and its quarterly report for the fiscal quarter ended Sept. 30, 2024, and become current with its periodic reports within the discretionary period available to the Nasdaq staff to grant.</p><p style=\"text-align: start;\">Super Micro said its securities will remain listed pending Nasdaq’s review of the plan, citing the exchange’s rules. A person familiar with the matter told <em>Barron’s </em>that it should take the Nasdaq about two weeks to review what has been sent over.</p><p style=\"text-align: start;\"><em>Barron’s</em> has reached out to Nasdaq for comment.</p><p style=\"text-align: start;\">Super Micro has dealt with no end of issues lately. The challenges have ranged from deteriorating profit margins to a short seller report to its former accounting firm resigning.</p><p style=\"text-align: start;\">The company delayed filing its 10-K, or annual report, for the fiscal year ended June 30, as it was required to do to maintain its listing on one of the two major U.S. stock exchanges. Super Micro also delayed the filing of its quarterly 10-Q last week.</p><p>After receiving a letter from the Listing Qualifications Department of the Nasdaq Stock Market on Sept. 17, Super Micro had 60 calendar days to file or submit a plan to the Nasdaq to regain compliance with listing rules. Based on that calculation, the deadline would have been Nov. 16, but because the date fell on a Saturday, there was the possibility of an extension.</p><p style=\"text-align: start;\">A person familiar with the matter told <em>Barron’s</em> last week and confirmed Monday that Super Micro intended to submit a plan by Monday that will allow it to continue to trade on the Nasdaq.</p><p style=\"text-align: start;\">Also Monday, the company also announced its latest lineup of  <a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a>  AI data-center server systems, based on Blackwell graphics processing units.</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","BK4170":"电脑硬件、储存设备及电脑周边","BK4585":"ETF&股票定投概念","LU1861215975.USD":"贝莱德新一代科技基金 A2","BK4588":"碎股","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","SMCI":"超微电脑"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2484980629","content_text":"SUPER MICRO COMPUTER INC  has appointed an independent auditor and submitted a plan with Nasdaq to comply with listing requirements.Shares of the server maker were sharply higher on Monday as investors awaited the announcement that it had filed that plan.Super Micro stock closed 15.9% higher to $21.54 and shot up another 47% in overnight trading.In a statement, Super Micro said its board engaged BDO USA, P.C. as its auditor, effective immediately. BDO is a member firm of BDO International.Charles Liang, Super Micro’s CEO, said the appointment of BDO “is an important next step to bring our financial statements current, an effort we are pursuing with both diligence and urgency.”The company also said its plan supports its request for an extension of time to regain compliance with Nasdaq’s requirements. The company said it believes it will be able to complete its annual report for the year ended June 30, 2024, and its quarterly report for the fiscal quarter ended Sept. 30, 2024, and become current with its periodic reports within the discretionary period available to the Nasdaq staff to grant.Super Micro said its securities will remain listed pending Nasdaq’s review of the plan, citing the exchange’s rules. A person familiar with the matter told Barron’s that it should take the Nasdaq about two weeks to review what has been sent over.Barron’s has reached out to Nasdaq for comment.Super Micro has dealt with no end of issues lately. The challenges have ranged from deteriorating profit margins to a short seller report to its former accounting firm resigning.The company delayed filing its 10-K, or annual report, for the fiscal year ended June 30, as it was required to do to maintain its listing on one of the two major U.S. stock exchanges. Super Micro also delayed the filing of its quarterly 10-Q last week.After receiving a letter from the Listing Qualifications Department of the Nasdaq Stock Market on Sept. 17, Super Micro had 60 calendar days to file or submit a plan to the Nasdaq to regain compliance with listing rules. Based on that calculation, the deadline would have been Nov. 16, but because the date fell on a Saturday, there was the possibility of an extension.A person familiar with the matter told Barron’s last week and confirmed Monday that Super Micro intended to submit a plan by Monday that will allow it to continue to trade on the Nasdaq.Also Monday, the company also announced its latest lineup of  NVIDIA Corp  AI data-center server systems, based on Blackwell graphics processing units.","news_type":1},"isVote":1,"tweetType":1,"viewCount":92,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":32,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}