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SMCI seems to be holding its post-earnings gains

by LewDiscuss
Enron 2.0 holds its gains
Enron 2.0 holds its gains

It’s down a few percentages today, but oft-featured Super Micro, seems to be holding most of the 30% it has gained this month.

This, despite the fact, that their auditors fired them because “they couldn’t trust management”, being threatened of de-listing by Nasdaq, and oh yeah: one of their founders being charged by the feds for violating export laws to China. Don’t worry, though. The company’s own internal investigation has cleared the company and its CEO from any wrongdoing.

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Boardroom intrigue

Super Micro threatened with Nasdaq de-listing

by Lew1 comment

Knives falls fast. Last night Super Micro was notified that it faces Nasdaq de-listing if it does not submit a “compliance plan.” That should be easy, they can just tack it on to the earnings report that they must be furiously working on with their brand new auditor…

Source · Muslim Farooque, Yahoo Finance
Super Micro Shares Plummet as Nasdaq Delisting Looms
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Bad Forecasts

Super Micro blasted by their auditors on the way out

by Lew2 comments

Wow. In the strongest statement I’ve seen in a long time by an auditor, Ernst and Young has resigned as Super Micro Computer’s auditing firm saying that it is “unwilling to be associated with the financial statements prepared by management.”

This happens just six days ahead of their earnings November 5, which the company has reiterated will still take place.

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