Why Super Micro Computer Ripped Higher Today
Shares of Super Micro Computer (NASDAQ: SMCI) rallied on Tuesday, increasing 13.8% as of 12:05 p.m. ET.Supermicro has been a controversial stock over the past six months, as former auditor Ernst & Young resigned in October; however, the company's new auditor, BDO, signed off on the company's financial statements in February, allowing the artificial intelligence (AI) server company to remain listed.However, a relatively disappointing June quarter outlook revealed on its May 6 earnings report, at least compared with expectations, sent the stock down again more recently.Continue reading
Shares of Super Micro Computer (NASDAQ: SMCI) rallied on Tuesday, increasing 13.8% as of 12:05 p.m. ET.
Supermicro has been a controversial stock over the past six months, as former auditor Ernst & Young resigned in October; however, the company's new auditor, BDO, signed off on the company's financial statements in February, allowing the artificial intelligence (AI) server company to remain listed.
However, a relatively disappointing June quarter outlook revealed on its May 6 earnings report, at least compared with expectations, sent the stock down again more recently.
