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Nasdaq Delisting

All articles tagged with #nasdaq delisting

finance1 year ago

Super Micro Faces Delisting Threat Amid Stock Slump

Super Micro Computer's stock dropped 6.3% after announcing it would miss the deadline for its quarterly 10-Q report, following the resignation of its auditor, Ernst & Young, due to concerns over management's financial representations. The company is also at risk of being delisted from Nasdaq for not filing its annual 10-K report. Despite earlier gains from AI trends, the stock is down 29% this year, and investor confidence is shaken by unaudited financial results.

via The Motley Fool|
#auditor-resignation#finance#financial-reports
business1 year ago

Super Micro Faces Financial Turmoil Amid Auditor Exit and Stock Volatility

Super Micro Computer Inc. may face early repayment of $1.725 billion in bonds if delisted from Nasdaq due to accounting issues and auditor resignation. The company's shares have plummeted 81% since March, and its bonds are nearing distress levels. Despite having $2.1 billion in cash, the potential early debt repayment poses a significant risk. Super Micro is working on a compliance plan to avoid delisting.

via Yahoo Finance|
#auditor-resignation#bonds#business
business1 year ago

Super Micro Stock Plummets Amid Earnings Uncertainty and Weak Forecast

Super Micro Computer's stock dropped over 24% after releasing a disappointing preliminary first-quarter report and failing to provide a timeline for its actual earnings. The company, facing potential Nasdaq delisting, reported unaudited results that fell short of expectations, with net sales and projected earnings below analyst forecasts. The resignation of its auditor, Ernst & Young, over governance issues has compounded the situation. Super Micro, a key partner of Nvidia, is actively seeking a new auditor and must submit a compliance plan to Nasdaq by November 16 to avoid delisting.

via Quartz|
#business#earnings-report#nasdaq-delisting
business1 year ago

Faraday Future Faces Financial Woes, Withdraws Production Outlook

Faraday Future (NASDAQ:FFIE) has issued a going concern warning, indicating it may file for bankruptcy if it cannot secure additional capital. The company’s high-priced EVs have led to disappointing sales, and it faces potential delisting from Nasdaq due to financial and reporting issues. Faraday sold only four vehicles and leased six in 2023, with significant R&D expenses further compounding its financial troubles.

via InvestorPlace|
#bankruptcy#business#electric-vehicles
business1 year ago

Faraday Future Faces Production Cuts and Stock Plunge Amid Weak EV Demand

Faraday Future has withdrawn its 2024 production forecast due to weak market conditions and funding issues, causing its shares to drop over 11%. The company is seeking additional strategic investors and financing options to reduce reliance on dilutive funding. Faraday also faces potential delisting from Nasdaq for failing to file its quarterly report on time and previously received a delisting notice for not maintaining a minimum share price. Despite a recent stock price increase, the company's cash balance has significantly decreased.

via Reuters|
#business#electric-vehicles#faraday-future