Reported 20 days ago
Super Micro Computer (SMCI) shares dropped more than 18% after the company's earnings and sales projections for the upcoming quarter fell short of Wall Street expectations. The company also failed to file its 10-K annual report, adding to investor uncertainty. Recent developments included the resignation of its auditor Ernst & Young, citing concerns over financial statements, following allegations of accounting issues by Hindenburg Research. The stock has now declined over 60% in the past six months due to these ongoing challenges.
Source: YAHOO