Super Micro Stock Tumbles Amid Repeated Earnings Report Delays
Super Micro Computer (SMCI) announced a delay in filing its quarterly report due to the need for a new accounting firm, causing its stock to fall over 3%. The company is already late in filing its 2024 Form 10-K and faces potential delisting from Nasdaq. Ernst & Young resigned as its accounting firm over financial reporting concerns, and the U.S. Department of Justice may investigate. SMCI stock has dropped 62% in the last three months.