Super Micro Faces 75% Drop, At Risk Of Delisting From S&P 500 After Auditor Resigns

Benzinga

Super Micro Computer has declined dramatically, plummeting 75% since it was added to the S&P 500 in March. The tech company is a major supplier of Nvidia-based AI infrastructure. It lost 33% on Wednesday after auditor Ernst & Young resigned, citing concerns over financial statements. Super Micro faces Nasdaq delisting if it fails to secure a new auditor by mid-November. Short seller Hindenburg Research recently took a position against the company, while the Department of Justice is reportedly investigating the company for potential accounting issues.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Supermicro Computer has declined dramatically, plummeting 75% since it was added to the S&P

00:07500 in March. The tech company is a major supplier of NVIDIA-based AI infrastructure.

00:14It lost 33% on Wednesday after auditor Ernst & Young resigned, citing concerns over financial

00:19statements. Supermicro faces NASDAQ delisting if it fails to secure a new auditor by mid-November.

00:26Short-seller Hindenburg Research recently took a position against the company,

00:30while the Department of Justice is reportedly investigating the company

00:33for potential accounting issues. For all things money, visit Benzinga.com slash GSTV.

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