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SMCI-SUPER MICRO COMPUTER INC

Super Micro Computer's Stock Plummets Over 30% Following Ernst & Young's Resignation Amid Accounting Concerns

Thursday

07 November, 2024

Super Micro Computer faces a turbulent moment as its stock plummets over 30% following Ernst & Young's resignation amid serious accounting concerns. With a potential Nasdaq delisting looming and a DOJ investigation underway, can the company navigate these challenges and restore investor confidence?

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Key Takeaways
  • Concerns about Super Micro Computer's governance and financial reporting have intensified after Ernst & Young's resignation as auditor.
  • The company's stock has plummeted by 32.7%, signaling potential investment risks.
  • Accusations of accounting irregularities and a DOJ investigation raise doubts about financial stability.
  • The lack of filed audited financial statements since May 2023 could lead to Nasdaq delisting.
  • Despite a significant revenue increase, forecasts indicate a potential slowdown in performance.
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