Reported 10 days ago
Supermicro's stock has continued its downward trend in 2024, dropping more than 25% following the announcement of delays in filing its fiscal first-quarter results. The company faces potential delisting from Nasdaq as it struggles to secure a new auditor after its previous firm, EY, resigned. Earlier this year, shares were valued around $120 but have since plummeted to approximately $21 amid concerns over its accounting practices.
Source: YAHOO