Super Micro Shares Surge Nearly 80% After New Auditor Announcement

The AI server maker's stock rebounds as it submits a Nasdaq compliance plan to avoid delisting following months of financial scrutiny.

Super Micro Computer's stock has surged nearly 80% this week, recovering from a sharp decline earlier this year following allegations of accounting malpractice.
The company hired BDO as its new auditor after Ernst & Young resigned in October, citing concerns about Super Micro's financial statements.
Super Micro submitted a compliance plan to Nasdaq to address delayed SEC filings, a critical step to avoid being delisted from the stock exchange.
The company's fiscal first-quarter earnings report missed Wall Street expectations, citing delays in Nvidia's AI chip shipments and ongoing regulatory challenges.
Despite recent gains, Super Micro's stock remains over 70% below its March highs, with analysts expressing caution due to unresolved corporate governance issues.