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Super Micro Faces 75% Drop, At Risk Of Delisting From S&P 500 After Auditor Resigns

2024-11-01 920 Dailymotion

Super Micro Computer has declined dramatically, plummeting 75% since it was added to the S&P 500 in March. The tech company is a major supplier of Nvidia-based AI infrastructure. It lost 33% on Wednesday after auditor Ernst & Young resigned, citing concerns over financial statements. Super Micro faces Nasdaq delisting if it fails to secure a new auditor by mid-November. Short seller Hindenburg Research recently took a position against the company, while the Department of Justice is reportedly investigating the company for potential accounting issues.