Reported 16 days ago
Super Micro Computer (NASDAQ: SMCI), which saw significant growth in the AI market, has experienced a sharp 60% decline in its stock following a series of troubling events. Issues began with a short report alleging accounting problems and were compounded by the resignation of its auditor, Ernst & Young, due to concerns about financial statements. While Supermicro reassured investors about its earnings and ongoing projects, uncertainties regarding internal controls and financial reporting have made it risky for current investors. Analysts suggest waiting for clearer information before making any investment decisions.
Source: YAHOO