💨 Abstract

Super Micro Computer shares plummeted over 20% in premarket trading due to unclear timelines for its annual report, weak quarterly forecasts, and concerns about financial reporting. The company's auditor, Ernst & Young, unexpectedly stepped down last week, and an investigation by a special committee found no evidence of fraud or misconduct. Super Micro risks delisting from Nasdaq if it does not meet deadlines this month.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖