Reported 20 days ago
Super Micro Computer's stock plummeted over 18% after the company released disappointing earnings forecasts, projecting adjusted earnings per share lower than analysts' expectations and net sales weaker than anticipated. Compounding concerns, Super Micro has yet to file its 10-K annual report, a delay initially announced in August, citing uncertainty over when it will be able to submit the filing. The resignation of accounting firm Ernst & Young as its auditor and ongoing investigations into its financial practices have added to investor apprehension, contributing to a 60% decline in the stock over the past six months.
Source: YAHOO