Super Micro Computer stock plunges after EY resignation

#microcomputers #supermicro #yahoofinance

Super Micro Computer (SMCI) stock plunges in Wednesday trading — falling over 30% at the time of this video's posting — after accounting firm Ernst & Young resigned as the server manufacturer's auditor. Seana Smith and Josh Schafer dive into the known details of this event, referencing an earlier Hindenburg Research from September that alleged accounting practice violations. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Luke Carberry Mogan.

Yahoo Finance: Market Coverage, Stocks, & Business News
About Yahoo Finance:

Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.

- Follow Yahoo Finance on social:

[torfriracookfera]

Until clarity emerges regarding their auditing situation, Super Micro's stock is likely to remain under pressure, highlighting the need for strong governance.

[Mxyzptlk]

Rather than identifying a new auditor, it would be better to identify a completely new management team and a completely new BoD for allowing this to happen.... AGAIN! i.e. 2018

[stevenarita]

SMCI went thru Deloitte and EY. Can you imagine the fees KPMG or PWC would charge?

[dietmarstahl]

I like their renegard Accounting. They will need fast computers for AI.

[jhockeyliu]

After all, they are only a bunch of guys who assemble computers.

[AhmedHamad-pp]

Did you see Super Micro Computer's stock? It just plummeted after EY resigned as their auditor. That’s not a great sign

[nahaidiew]

I hope SMCI acting like LUCKIN COFFEE of the CCP otherwise we're all cooked