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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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32
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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