Super Micro stock surges 15% after hiring new auditor; market performance is positive.

From Nasdaq: 2024-11-25 00:32:15

Super Micro Computer stock (NASDAQ: SMCI) surged 15% on Thursday and has risen 66% in the past week. The company hired BDO as its new auditor after Ernst & Young raised concerns about financial statements. Despite gains, SMCI remains down 70% from its highs this year and faces delisting concerns. SMCI stock has outperformed the market in recent years but still carries corporate governance risks. While demand for its server systems is strong, uncertainties around financial reporting and investigations persist. Investors should proceed with caution.



Read more at Nasdaq: Is The Worst Over For Super Micro Stock?