Ernst & Young resigned as auditor to Super Micro Computer (SMCI) citing concerns about the company's governance and transparency. Woo Jin Ho, Bloomberg Intelligence Senior Technology Analyst breaks down what this means for the company.
The financial concerns for Supermicro (SMCI) continue to mount. Kevin Green explains why the company can continue to plunge after Ernst & Young "fires" the chip maker.
With the share price of Super Micro Computer (NASDAQ: SMCI) crumbling amid investor concerns over its accounting practices, an unidentified trader has seen substantial gains on the company's put contracts.
Super Micro Computer investors got some very concerning news today, and the stock is cratering.
Super Micro Computer Inc. (NASDAQ: SMCI) seems to be in the midst of a catastrophe.
Gone are the days of Super Micro Computer (NASDAQ: SMCI) breaking records and mesmerizing investors with its incredible stock market advance, and the most recent developments indicate they aren't coming back in the foreseeable future.
Super Micro Computer (SMCI) shares plunged Wednesday after accounting firm EY resigned as the company's auditor following months of speculation about the company's accounting practices.
Supermicro's (SMCI) continued accounting woes and Eli Lilly's (LLY) sharp plummet do no favors for the technology and health care sectors. These names are just two factors that Kevin Green believes will lead to a difficult day for bulls.
Supermicro (SMCI) sold off after its independent auditor, Ernst & Young, resigned. This follows a series of financial concerns around the company.
Super Micro filing indicates Ernst & Young flagged governance concerns back in July, which was before a short seller's report put them on the minds of investors.
Ernst & Young has resigned as the auditor for Super Micro Computer after finding that it can no longer rely on management's misrepresentations.
Super Micro Computer said on Wednesday Ernst & Young has resigned as its public accounting firm, sending shares of the AI server maker down by more than 23% in premarket trading.