Super Micro Computer Faces Investor Caution Despite Stock Rebound
The AI server maker has rallied after hiring a new auditor and submitting a Nasdaq compliance plan, but unresolved financial and governance issues persist.
- Super Micro Computer's stock has rebounded 92% from its mid-November low of $17.25 after hiring BDO USA as its new auditor and submitting a compliance plan to Nasdaq.
- The company is working to avoid delisting by addressing delayed financial filings, including its overdue 10-K and quarterly reports, but has not provided a timeline for completion.
- The resignation of its previous auditor, Ernst & Young, citing concerns over management's financial representations, continues to raise questions about corporate governance.
- While Super Micro has prepaid loans to avoid immediate financial reporting deadlines, this move has heightened concerns about potential delays in resolving its accounting issues.
- Despite strong revenue growth driven by AI server demand, the company's unresolved governance and financial reporting challenges have left investors cautious about its long-term viability.
Forbes 