
Super Micro Computer, Inc. (NASDAQ: $SMCI) has faced significant scrutiny following the disclosure of its financial maneuvers. On November 20, the company announced via an 8-K filing that it had repaid and terminated all loans with Cathay Bank, only days after revealing on November 15 that it had renegotiated these loans. This abrupt shift has raised concerns among lenders, particularly regarding potential covenant breaches that may have prompted the early repayment. Additionally, speculation has emerged about the company's future on the Nasdaq exchange, especially in light of recent auditor resignations and ongoing questions about its financial integrity. The company's previous auditor, Ernst & Young (EY), had publicly questioned Super Micro's accounting practices, further complicating its financial standing.
Looks like not filing 10-k seems to be the cool thing to do these days $smci $sym
$SYM Still fascinates me that all these AI enabled firms end up with accounting issues. https://t.co/IMii7K8ivA
Is Nasdaq going to delist $SMCI? If so, why haven't they done it? Or is Nasdaq waiting to see if the latest auditor is willing sign off on the company's financials? Remember EY recently resigned as Super Micro's auditor and openly questioned the company's integrity.… https://t.co/fjJ9t2YgBQ