Up 25% in the Last Week, Is It Safe to Buy Super Micro Computer Stock Again?
It's been a wild six months for Super Micro Computer (NASDAQ: SMCI).The stock plunged in August as the company, best known for making high-density AI servers, said it would delay its 10-K filing. That admission came after short-seller Hindenburg Research accused it of accounting malfeasance and inconsistencies, and the company said it would not be able to file its annual report on time.The following month, reports emerged that it was being investigated by the Justice Department, and in October, the stock plunged as its auditor, Ernst & Young, resigned, underscoring the crisis at the company.Continue reading
It's been a wild six months for Super Micro Computer (NASDAQ: SMCI).
The stock plunged in August as the company, best known for making high-density AI servers, said it would delay its 10-K filing. That admission came after short-seller Hindenburg Research accused it of accounting malfeasance and inconsistencies, and the company said it would not be able to file its annual report on time.
The following month, reports emerged that it was being investigated by the Justice Department, and in October, the stock plunged as its auditor, Ernst & Young, resigned, underscoring the crisis at the company.
