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Super Micro: Fresh Evidence Of Accounting Manipulation, Sibling Self-Dealing And Sanctions Evasion At This AI High Flyer



https://finance.yahoo.com/news/super-micro-stock-plunges-19-after-company-delays-annual-report-following-short-seller-report-200333718.html

"Super Micro Computer (SMCI) stock plunged 19% on Wednesday after the company said it would delay the filing of its annual report for its fiscal year that ended June 30."

"The announcement comes a day after short seller Hindenburg Research claimed, among other things, "accounting manipulation" at the artificial intelligence high flyer."

"SMCI is unable to file its Annual Report within the prescribed time period without unreasonable effort or expense," the company said in a statement. "Additional time is needed for SMCI’s management to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting as of June 30, 2024."

"Super Micro shares soared from $290 in early January to about $1,200 by March, when the stock was added to the S&P 500 (^GSPC). The ticker also joined the Nasdaq 100 index (^NDX) in July."