Super Micro Computer faces a 45% stock drop and DOJ investigation after its auditor resigned.

Super Micro Computer (SMCI) is facing significant challenges, including a 45% drop in stock value after its auditor, Ernst & Young, resigned due to concerns over financial reporting. The company is under investigation by the Department of Justice and has delayed filing its annual report, risking potential delisting from Nasdaq. While demand for its AI server products remains, analysts have downgraded its stock and emphasized uncertainty about its future.

November 04, 2024
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