Super Micro Stock Surges Nearly 80% Following New Auditor Appointment

Reported about 19 hours ago

Super Micro Computer's stock (SMCI) experienced a remarkable rebound this week, gaining over 78% as it appointed a new auditor, BDO, to address compliance issues following challenges related to its prior accountant, Ernst & Young. Despite this week's surge, shares remain significantly lower than their March highs. The company is working to submit delayed filings to avoid delisting from the Nasdaq, influenced by a controversial report from Hindenburg Research alleging financial misconduct and a current investigation by the Department of Justice. The stock's rise was further buoyed by positive developments from its partner Nvidia.

Source: YAHOO

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