Super Micro Computer’s shares have jumped 15.9% today, doubling since November 15, as investors regain confidence after the company hired a new auditor and submitted a plan to stay in compliance with the Nasdaq stock exchange. However, despite this rebound, the stock still faces significant risks due to outstanding accounting issues.
The company has yet to file its 10-K filing, which is expected to address the discrepancies that led to a delay in filings and the resignation of its former auditor, Ernst & Young. The special committee’s report on remedial measures to fix financial reporting is also pending.
Investors should exercise caution when considering investing in Super Micro Computer, as long-term ownership may not be suitable due to these ongoing issues. A more conservative approach is recommended until the company resolves its accounting problems.
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Source: https://finance.yahoo.com/news/super-micro-computer-stock-popped-221700958.html