Super Micro stock collapses as Nasdaq delisting deadline approaches – 11/11/2024 at 4:41 p.m.

Super Micro stock collapses as Nasdaq delisting deadline approaches – 11/11/2024 at 4:41 p.m.
Super Micro stock collapses as Nasdaq delisting deadline approaches – 11/11/2024 at 4:41 p.m.

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

November 11 – **Shares of artificial intelligence server maker Super Micro Computer SMCI.O fall 11.9% to $21.61

**The company is approaching the deadline to provide its annual report for the financial year ending June 30, 2024 to once again comply with Nasdaq listing rules

** Nasdaq notified SMCI of its non-compliance with the listing rules on September 17, after which the company had 60 days to file its annual report or submit a plan to return to compliance

**Super Micro risks delisting if it fails to meet deadlines

**EY withdrew as auditor of SMCI last month

** Last week, SMCI expressed uncertainty over the timing of its annual report, but said an investigation into accounting practices had not found fraud by the company

**Super Micro was previously delisted in 2019 after missing 10-K and several quarterly report filing deadlines, but it complied again in 2020

**Three of 14 brokers rate the stock at “buy” or higher, 9 at “hold” and 2 at “sell” or lower; median PT is $33.56 – LSEG data

**SMCI shares are down ~22.9% year to date

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