Super Micro shares fall as it delays filing of September quarter report
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Super Micro Computer Inc (NASDAQ:SMCI) shares dropped after delaying its September quarter report due to seeking a new accounting firm. Ernst & Young resigned as the auditor, citing governance and transparency concerns.
November 13, 2024 | 3:15 pm
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Super Micro's shares fell after delaying its September quarter report due to the search for a new accounting firm. Ernst & Young resigned as auditor, raising concerns about governance and transparency.
The delay in filing the quarterly report and the resignation of Ernst & Young as the auditor due to governance and transparency concerns are likely to negatively impact investor confidence, leading to a short-term decline in SMCI's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100