Super Micro shares plunge 33% as auditor resigns after raising concerns months earlier
Publishing timestamp: 2024-10-30 13:06:13
Summary
Ernst & Young resigned as Super Micro's auditor due to concerns over internal controls, board independence, and accounting practices. Super Micro's shares plunged 33% after the resignation. The company has delayed filing its financial statements for 2024 and is reportedly under federal investigation. Super Micro's customers include major players in AI such as Nvidia, AMD, and Intel.
Sentiment: NEGATIVE
Tickers: NVDA, INTC, AMD, SMCI,
Keywords: advanced micro devices inc, nvidia corp, breaking news: technology, breaking news: markets, charles liang, intel corp, business news, super micro computer inc,