Though the company’s place within the tech sector positioned it well to ride the AI wave, it also has a history of accounting issues
boom and the tale of Super Micro Computers, a California-based IT corporation that builds data servers and storage systems. Its products cater to clients operating in a variety of fields, including cloud computing and data centres.are reaching new highs and other AI heavyweights are roaring upward, Super Micro Computers Inc. stock is down on the year.
After this news, Super Micro received a non-compliance letter from the Nasdaq in September, which noted the company had 60 days to file its annual report or submit a plan to avoid being delisted. The Nasdaq could grant an additional 180 days to regain compliance, but it is unclear if the exchange will.
The question now is where the story goes from here. On the one hand, it could get a lot worse before it gets better. The board of directors could struggle to find an auditor, the shares could be delisted, the SEC could sue them, owners could sue them, executives could be shown the door leading to even more disarray, and major accounting issues may invalidate a lot of the historic financials. In the worst case, the corporation could vanish if the accounting problems are material enough.
I would also like to see the name out of the headlines, a turnaround plan in place, and net insider selling decline or even flip into net insider buying. The stock could rally without these ingredients, but betting on such an outcome would be speculative.
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