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Accounting Issues

All articles tagged with #accounting issues

business1 year ago

Super Micro Faces Investor Uncertainty Amid Nasdaq Delisting Concerns

Despite facing accounting and financial reporting issues, Super Micro Computer (SMCI) retains a strong customer base, according to JPMorgan analyst Samik Chatterjee. However, investor confidence is waning, with SMCI stock dropping over 6% amid ongoing concerns. The company is addressing these issues by ramping up production and planning new product rollouts, while an independent committee found no accounting wrongdoing. Nevertheless, the stock remains underweight with a price target of 23.

via Investor's Business Daily|
#accounting-issues#ai-servers#business
finance1 year ago

Super Micro Stock: Key Insights Amid Market Volatility

Super Micro Computer has faced significant challenges, including a short-seller report alleging accounting irregularities, a DOJ investigation, and a Nasdaq delisting warning. The resignation of its auditor, Ernst & Young, and hiring of BDO USA, which has its own regulatory issues, add to investor concerns. Despite a recent stock rebound, Supermicro remains out of compliance with Nasdaq and faces potential financial restatements. Investors should be cautious due to ongoing uncertainties about its financial health.

via The Motley Fool|
#accounting-issues#auditor-change#finance
business1 year ago

Supermicro Shares Soar Amid Delisting Avoidance Strategy

Super Micro Computer's stock surged over 18% in extended trading after reports emerged that the company plans to file a plan by Monday to address its delayed annual report, potentially avoiding delisting by Nasdaq. The company has faced regulatory scrutiny and a significant stock decline due to allegations of accounting manipulation. Supermicro received a delisting warning from Nasdaq, requiring a plan submission by November 16.

via Investopedia|
#accounting-issues#business#delisting
finance1 year ago

Super Micro Faces Uncertain Future Amid Delisting and S&P 500 Concerns

Super Micro Computer is facing significant challenges, including a looming Nasdaq delisting deadline due to delayed financial filings and an investigation by the Department of Justice. The company's relationship with key partner Nvidia is also under scrutiny, as reports suggest Nvidia is redirecting orders away from Supermicro. Investors are closely watching for Supermicro's compliance plan and Nvidia's upcoming earnings report, which could further impact the stock's future. The stock has already dropped 65% since a critical short report by Hindenburg Research.

via The Motley Fool|
#accounting-issues#finance#nasdaq
education1 year ago

"MPS Leadership Turmoil: Superintendent and Comptroller Depart Amid Controversy"

Alfredo Balmaseda, the comptroller for Milwaukee Public Schools, has left his position amid allegations of financial mismanagement within the district. Balmaseda claims he was trying to address severe accounting issues and insists he did nothing wrong. The district's superintendent, Keith Posley, also resigned recently. The district has been accused of failing to file crucial financial reports and implement proper safety measures for students.

via Milwaukee Journal Sentinel|
#accounting-issues#alfredo-balmaseda#education
finance2 years ago

C3.ai stock plummets on short-seller allegations.

C3.ai shares are expected to continue falling after short-seller Kerrisdale Capital alleged "accounting issues" at the AI software developer, causing shares to drop over 26%. C3.ai denied the allegations, stating that the accounting disclosures and financial statements have been reviewed by an independent audit firm and are complete and correct. Other AI-related stocks, including SoundHound AI, Guardforce AI, and BigBear.ai, were also trading lower. C3.ai's short interest is 27.5%.

via Seeking Alpha|
#accounting-issues#c3ai#finance
finance2 years ago

C3.ai Stock Drops 26% Amid Accounting Allegations by Short-Seller

C3.ai, an enterprise software developer, saw its shares fall by 26% after short-seller Kerrisdale Capital alleged "serious accounting and disclosure issues" at the company. Kerrisdale accused C3.ai of using "highly aggressive accounting" to inflate its income statement metrics and conceal deterioration in its underlying operations. The company accounts for costs related to bespoke software production as research and development rather than cost-of-revenue to boost margins, according to Kerrisdale. C3.ai called the letter a "highly creative and transparent attempt" to diminish the stock price and said the accounting disclosures and financial statements referenced in the letter have been reviewed by its independent audit firm.

via Yahoo Finance|
#accounting-issues#c3ai#finance