Super Micro Shares Jump 37% After Naming New Auditor Amid Nasdaq Compliance Efforts

Benzinga

Super Micro Computer announced it has hired BDO as its new auditor and submitted a compliance plan to Nasdaq. CEO Charles Liang emphasized urgency in addressing financial statement delays. Super Micro's 2024 year-end report filing was delayed after Ernst & Young stepped down as its auditor in October. Super Micro's shares surged more than twentyfold from early 2022 to their peak in March 2023 but have declined sharply amid Nasdaq compliance issues. The company's market cap, once $70 billion, stood at over $12 billion on Monday. Shares surged 37% in extended trading.

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

00:02Supermicro Computer announced it has hired BDO as its new auditor and submitted a compliance

00:07plan to NASDAQ. CEO Charles emphasized urgency in addressing financial statement delays.

00:13Supermicro's 2024 year-end report filing was delayed after Ernst & Young stepped down as

00:19its auditor in October. Supermicro's share surged more than 20-fold from early 2022

00:24to their peak in March of 2023, but have since declined sharply amid NASDAQ compliance issues.

00:30The company's market cap, which was once $70 billion,

00:34stood at over $12 billion on Monday. Shares surged 37% in extended trading.

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