Shares of Super Micro Computer (SMCI 30.73%), the ailing artificial intelligence (AI) server maker, were surging today after the company finally gave investors a favorable update from its independent special committee.The report from Supermicro, which has been through a series of financial reporting setbacks, offered some good news and helped boost investor confidence.As a result, the stock was up 15.6% as of 10:23 a.m. ET. Supermicro gets some good newsIn a press release this morning, the company said that ...

Key TakeawaysSuper Micro Computer said an independent review of its accounting practices found no wrongdoing.The computer server maker added that concerns raised by its former auditor "were not supported by the facts."The report also called for David Weigand to be replaced as CFO, and the board is in the process of doing so. Shares of Super Micro Computer (SMCI), or Supermicro, soared roughly 20% to lead S&P 500 gainers Monday after the troubled computer server maker announced an investigation found no mis ...

Charles Liang, CEO of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on June 5, 2024.Super Micro Computer surged more than 14% after a special committee ruled that it found "no evidence of misconduct" at the embattled AI server maker, and appointed a new chief accounting officer."The evidence reviewed by the Special Committee did not raise any substantial concerns about the integrity of Supermicro's senior management or Audit Committee, or their commitment to ensuring that the ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

During a generally quiet period in the market – Thanksgiving – one deeply troubled stock made an unexpectedly large downward move – Super Micro Computer (NASDAQ: SMCI).Specifically, around 8:30 AM EST on November 29, SMCI shares plunged 10% within minutes, only to partially rebound and form something of a cup-and-handle pattern, leading them to their press time price near $32, per the data retrieved from Robinhood (NASDAQ: HOOD) on Friday.SMCI stock November 29 sudden drop. Source: RobinhoodThough there is ...

In this video, I will cover recent updates regarding Super Micro Computer (SMCI -7.76%). Watch the short video to learn more, consider subscribing, and click the special offer link below.*Stock prices used were from the trading day of Nov. 27, 2024. The video was published on Nov. 29, 2024. ...

I'm a full time value investor and writer who enjoys using classical value ratios to pick my portfolio. Long-term focused on low P/B, P/FCF, Owner Earnings discounting, PEG ratios, the Graham Number and an occasional net-net hunter. I also believe tracking earnings growth versus price appreciation is an essential element to any quality evaluation.I advocate self-indexing primarily using the Dow Jones Industrial Average as my index of choice combined with Joel Greenblatt's Magic Formula. This can help with t ...

Super Micro Computer (SMCI 15.87%) is a key player in one of the hottest technology fields -- artificial intelligence (AI) -- and revenue has jumped in the triple digits quarter after quarter. The company produces equipment such as workstations and servers for AI data centers and is an expert in the new growth area of liquid cooling technology. From this angle, the future looks bright.But recent headwinds have weighed on Supermicro, pushing the stock down about 40% over the past two and half months. First, ...

Key TakeawaysThe S&P 500 added 0.3% on Monday, Nov. 25, 2024, as the post-election rally regained steam on the first day of the holiday week.Super Micro Computer shares soared, extending the gains posted last week after the server maker submitted a plan to avoid the delisting of its stock by the Nasdaq.Shares of ConocoPhillips dropped as the oil and gas giant finalized its acquisition of Marathon Oil. Major U.S. equities indexes moved higher to kick off Thanksgiving week. The post-election rally regained mo ...

Key TakeawaysSupermicro shares gained ground in premarket trading on Monday after rising nearly 80% last week, as the embattled server maker rebounded from a turbulent stretch.The recent gains follow the filing of a compliance plan last Monday to avoid a potential Nasdaq delisting, as well as a mention from partner and AI favorite Nvidia in the chipmaker’s earnings call on Wednesday.Supermicro shares broke down below support earlier this month before promptly reversing direction to create a potential bear t ...