Super Micro Faces Stock Plunge Amid Auditor Resignation and Nasdaq Delisting Risk

The company's shares have dropped sharply following missed earnings forecasts and ongoing uncertainty about its financial reporting and governance.

Super Micro's shares fell over 20% after it failed to provide a timeline for filing its delayed 2024 annual report, risking Nasdaq delisting.
Ernst & Young resigned as the company's auditor, citing concerns over governance and financial reporting, adding to investor unease.
An independent committee found no evidence of fraud, but analysts remain skeptical, downgrading the stock and cutting price targets.
Super Micro's preliminary first-quarter earnings and sales forecasts missed Wall Street expectations, further impacting investor confidence.
The company is actively seeking a new auditor and aims to address its financial reporting issues to maintain its Nasdaq listing.