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Super Micro's Stock Had a Historic Week - but It's Still 70% off Its Highs

$SUPER MICRO COMPUTER INC(SMCI)$'s investors have gotten some relief this week, as the beleaguered server maker said it has a new auditor and has submitted a plan to the Nasdaq for how it intends to

Super Micro's Stock Had a Historic Week - but It's Still 70% off Its Highs

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[Miser]","highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/373971664638256","repostId":2485212639,"repostType":4,"repost":{"id":"2485212639","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":1732317650,"share":"https://www.laohu8.com/m/news/2485212639?lang=&edition=full","pubTime":"2024-11-23 07:20","market":"sg","language":"en","title":"Super Micro's Stock Had a Historic Week - but It's Still 70% off Its Highs","url":"https://stock-news.laohu8.com/highlight/detail?id=2485212639","media":"Dow Jones","summary":" $SUPER MICRO COMPUTER INC(SMCI)$'s investors have gotten some relief this week, as the beleaguered server maker said it has a new auditor and has submitted a plan to the Nasdaq for how it intends to ","content":"<html><head></head><body><p> <a href=\"https://laohu8.com/S/SMCI\">SUPER MICRO COMPUTER INC</a>&#39;s investors have gotten some relief this week, as the beleaguered server maker said it has a new auditor and has submitted a plan to the Nasdaq for how it intends to get current with filing requirements.</p><p>That&#39;s translated into a 78% weekly surge in Super Micro&#39;s stock, the biggest weekly gain on record. That increase is more than double the prior weekly record of 33.5%, which was seen in the week that ended May 26, 2023.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/db98b04e48b241c600e7fd02fd4cda24\" tg-width=\"1468\" tg-height=\"770\"/></p><p>Still, the stock is off from its former glory, down 72% from its March closing high. At one point, Super Micro shares were up more than 300% on the year, but now they&#39;re up only 17% in 2024, after recently clawing back into positive territory.</p><p>Super Micro&#39;s announcements this week gave investors more confidence that the company will be able to get back in compliance with filing requirements necessary to retain its Nasdaq listing. Super Micro has delayed several filings while looking into its financial controls and after its prior auditor, Ernst &amp; Young, recently resigned.</p><p>Ernst &amp; Young raised concerns about Super Micro&#39;s accounting, but the company has said that a special committee looked into those initial concerns and found that the audit committee at Super Micro &#34;acted independently and that there is no evidence of fraud or misconduct on the part of management or the board of directors.&#34;</p><p>It remains to be seen whether Super Micro is indeed out of the woods with its accounting saga, however, and if the recent issues will draw the eye of regulators. The company also still needs to win Nasdaq approval for its plan to file the delayed reports.</p><p>Some other positives this week include that  <a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a>  called out the company as one of its partners on its earnings call. Nvidia has done so in the past as well, but this mention was welcome to Super Micro investors as some had worried the accounting issues would cloud the company&#39;s relationships with partners.</p><p>Further, S&amp;P Dow Jones Indices announced Thursday that  <a href=\"https://laohu8.com/S/TPL\">Texas Pacific Land</a>  would soon replace  <a href=\"https://laohu8.com/S/MRO\">Marathon Oil</a>  in the S&amp;P 500 SPX. That the committee didn&#39;t also boot Super Micro for poor recent stock performance while making that other change is perhaps a reassuring sign that Super Micro isn&#39;t in immediate danger of losing its spot in the high-profile index.</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's Stock Had a Historic Week - but It's Still 70% off Its Highs</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's Stock Had a Historic Week - but It's Still 70% off Its Highs\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\">2024-11-23 07:20</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>&#39;s investors have gotten some relief this week, as the beleaguered server maker said it has a new auditor and has submitted a plan to the Nasdaq for how it intends to get current with filing requirements.</p><p>That&#39;s translated into a 78% weekly surge in Super Micro&#39;s stock, the biggest weekly gain on record. That increase is more than double the prior weekly record of 33.5%, which was seen in the week that ended May 26, 2023.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/db98b04e48b241c600e7fd02fd4cda24\" tg-width=\"1468\" tg-height=\"770\"/></p><p>Still, the stock is off from its former glory, down 72% from its March closing high. At one point, Super Micro shares were up more than 300% on the year, but now they&#39;re up only 17% in 2024, after recently clawing back into positive territory.</p><p>Super Micro&#39;s announcements this week gave investors more confidence that the company will be able to get back in compliance with filing requirements necessary to retain its Nasdaq listing. Super Micro has delayed several filings while looking into its financial controls and after its prior auditor, Ernst &amp; Young, recently resigned.</p><p>Ernst &amp; Young raised concerns about Super Micro&#39;s accounting, but the company has said that a special committee looked into those initial concerns and found that the audit committee at Super Micro &#34;acted independently and that there is no evidence of fraud or misconduct on the part of management or the board of directors.&#34;</p><p>It remains to be seen whether Super Micro is indeed out of the woods with its accounting saga, however, and if the recent issues will draw the eye of regulators. The company also still needs to win Nasdaq approval for its plan to file the delayed reports.</p><p>Some other positives this week include that  <a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a>  called out the company as one of its partners on its earnings call. Nvidia has done so in the past as well, but this mention was welcome to Super Micro investors as some had worried the accounting issues would cloud the company&#39;s relationships with partners.</p><p>Further, S&amp;P Dow Jones Indices announced Thursday that  <a href=\"https://laohu8.com/S/TPL\">Texas Pacific Land</a>  would soon replace  <a href=\"https://laohu8.com/S/MRO\">Marathon Oil</a>  in the S&amp;P 500 SPX. That the committee didn&#39;t also boot Super Micro for poor recent stock performance while making that other change is perhaps a reassuring sign that Super Micro isn&#39;t in immediate danger of losing its spot in the high-profile index.</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4503":"景林资产持仓","SG9999015341.SGD":"United Income Focus Trust Acc SGD-H","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","NVDS":"Tradr 1.5X Short NVDA Daily ETF","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","NVDA":"英伟达","SMCI":"超微电脑","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","NVDD":"Direxion Daily NVDA Bear 1X Shares","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","NVD":"GraniteShares 2x Short NVDA Daily ETF","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","3NVD.UK":"LS 3X NVIDIA","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","LU0056508442.USD":"贝莱德世界科技基金A2","2NVD.UK":"2X NVIDIA ETP","IE00BYXW3230.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"AA\" (USD) ACC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","TPL":"Texas Pacific Land Trust Sub Sha","SNVD.UK":"LS -1X NVIDIA","LU0109392836.USD":"富兰克林科技股A","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","NVD2.UK":"2X NVIDIA ETP","IE00BDRTCR15.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC A","LU2063271972.USD":"富兰克林创新领域基金","LU1861127337.USD":"ALLIANZ GLOBAL MULTI ASSET SUSTAINABILITY BALANCED \"AMG\" (USD) INC","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","NVD3.UK":"LS 3X NVIDIA","NVDS.UK":"LS -1X NVIDIA","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","NVDY":"YIELDMAX NVDA OPTION INCOME STRATEGY ETF","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU0203201768.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"AX\" (USD) INC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","MRO":"马拉松石油","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","BK4543":"AI","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","NVDX":"T-REX 2X LONG NVIDIA DAILY TARGET ETF","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","NVDU":"Direxion Daily NVDA Bull 2X Shares"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2485212639","content_text":"SUPER MICRO COMPUTER INC's investors have gotten some relief this week, as the beleaguered server maker said it has a new auditor and has submitted a plan to the Nasdaq for how it intends to get current with filing requirements.That's translated into a 78% weekly surge in Super Micro's stock, the biggest weekly gain on record. That increase is more than double the prior weekly record of 33.5%, which was seen in the week that ended May 26, 2023.Still, the stock is off from its former glory, down 72% from its March closing high. At one point, Super Micro shares were up more than 300% on the year, but now they're up only 17% in 2024, after recently clawing back into positive territory.Super Micro's announcements this week gave investors more confidence that the company will be able to get back in compliance with filing requirements necessary to retain its Nasdaq listing. Super Micro has delayed several filings while looking into its financial controls and after its prior auditor, Ernst & Young, recently resigned.Ernst & Young raised concerns about Super Micro's accounting, but the company has said that a special committee looked into those initial concerns and found that the audit committee at Super Micro \"acted independently and that there is no evidence of fraud or misconduct on the part of management or the board of directors.\"It remains to be seen whether Super Micro is indeed out of the woods with its accounting saga, however, and if the recent issues will draw the eye of regulators. The company also still needs to win Nasdaq approval for its plan to file the delayed reports.Some other positives this week include that  NVIDIA Corp  called out the company as one of its partners on its earnings call. Nvidia has done so in the past as well, but this mention was welcome to Super Micro investors as some had worried the accounting issues would cloud the company's relationships with partners.Further, S&P Dow Jones Indices announced Thursday that  Texas Pacific Land  would soon replace  Marathon Oil  in the S&P 500 SPX. That the committee didn't also boot Super Micro for poor recent stock performance while making that other change is perhaps a reassuring sign that Super Micro isn't in immediate danger of losing its spot in the high-profile index.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1,"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":38,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}