Trump-Linked Crypto Firm Keeps Auditor with Troubled Past
A crypto venture linked to Donald Trump has retained an auditor with a controversial history, raising concerns about transparency and regulatory compliance in the project.
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Super Micro Stock Surges 30% Amid New Auditor Appointment
Supermicro's stock surged over 30% after the company announced a new auditor and submitted a plan to avoid Nasdaq delisting, following its failure to file an annual report on time. Despite the rise, the stock remains 75% below its March peak, reflecting a volatile year influenced by AI enthusiasm and accounting concerns.
Super Micro Stock Surges on New Auditor and Nasdaq Compliance Plan
Super Micro Computer's stock surged in premarket trading after the company appointed a new auditor, BDO USA, and submitted a compliance plan to Nasdaq to avoid delisting. The stock, which had lost over half its value due to accounting issues and delisting fears, rose 25% to around $27. Investors are advised to watch key resistance levels at $30, $39, and $64, and a support level at $23, as the stock's relative strength index moves out of oversold territory, indicating potential for further gains.
Super Micro Stock Skyrockets on New Auditor and Nasdaq Compliance Plan
Super Micro Computer (SMCI) shares surged 40% in after-hours trading after hiring BDO USA as its new auditor, averting a potential Nasdaq delisting. The company plans to submit delayed financial reports to regain compliance. Despite recent setbacks, including accusations of accounting malpractices and the resignation of its previous auditor, SMCI is gaining attention for its AI server developments using Nvidia chips. Analysts remain cautious, with a Hold consensus rating, but the stock shows significant upside potential.
Super Micro Shares Surge 37% Amid New Auditor Appointment and Nasdaq Plan
Super Micro Computer Inc's shares surged 36% after appointing BDO USA as its new auditor and submitting a compliance plan to Nasdaq. The company aims to complete its financial reports following the resignation of its previous auditor, Ernst & Young, due to concerns over internal controls and board independence. Super Micro is also under federal investigation related to a short seller report.
Super Micro Stock Rallies on Nasdaq Compliance Plan and New Auditor
Super Micro Computer's stock surged over 28% in extended trading after the company appointed BDO USA as its new auditor and submitted a compliance plan to avoid delisting by Nasdaq. This move follows a warning from Nasdaq regarding a delayed annual report and previous concerns over the company's accounting practices, highlighted by a report from short seller Hindenburg. The stock had been under pressure due to these regulatory concerns, despite earlier gains from AI infrastructure demand.
Super Micro's Future Uncertain Amid Delisting Threats and Earnings Concerns
Super Micro Computer Inc. faces potential delisting from Nasdaq and removal from the S&P 500 following the resignation of its auditor, Ernst & Young, due to concerns about the company's integrity and ethics. The server maker, which has seen its shares drop over 75% since March, is under pressure to meet compliance obligations after failing to file its annual 10-K report. Analysts express skepticism about the company's ability to resolve these issues in time, raising the risk of financial restatements.
UBS Sticks with EY as Auditor Amid Credit Suisse Takeover: Financial Times
UBS Group has decided to retain EY as its external auditor and expand its role to include Credit Suisse's accounts from 2024. PwC, which has been Credit Suisse's auditor since 2020, will audit the acquired bank's accounts for 2023. The contract size will require EY to bring in staff from other countries to work on the audit.