Reported 26 days ago
Super Micro, a Silicon Valley tech company, saw its stock rise 3000% amid the AI boom, with a revenue doubling to $7.12 billion. However, its fortunes took a hit when auditor Ernst & Young resigned, citing distrust in management's financial practices. This raised red flags in the investment community as Super Micro attempts to reassure investors about its accounting integrity amidst ongoing scrutiny from regulators and previous allegations of improper accounting. The company's complex internal relationships and ongoing investigations further complicate its financial picture.
Source: YAHOO