Super Micro Computer Inc. SMCI announced the completion of an independent review on Monday. The review, conducted by an Independent Special Committee, found no “evidence of misconduct” by the company’s management or board.What Happened: The review was initiated in response to allegations of misconduct. Following the report, the company shares popped over 30% on Monday and gained 7% during Tuesday’s premarket session.Despite acknowledging "modest lapses," JPMorgan analysts have highlighted two crucial aspect ...

Key TakeawaysSupermicro shares jumped nearly 30% Monday after the server maker announced that an independent review of its accounting practices found no wrongdoing. The stock has reclaimed the lower trendline of a descending broadening formation that has been in play since the stock topped out in early March.Investors should watch key overhead areas on Supermicro's weekly chart around $50, $64, and $97, while monitoring major support levels near $30 and $23. Super Micro Computer (SMCI) shares jumped nearly ...

ToplineShares of information technology firm Super Micro Computer closed up nearly 30% on Monday after the company said an independent committee found “no evidence of fraud or misconduct”—after a rocky 2024 marked by governance concerns raised by a former auditor and other alleged accounting issues.Super Micro shares closed up almost 30% on Monday. (Photo Illustration by Omar Marques/SOPA ... [+] Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images Key FactsSuper Micro shares closed ...

Key TakeawaysThe S&P 500 added 0.2% on Monday, Dec. 2, as tech, communication, and consumer discretionary stocks helped the index build on last week's record close.Super Micro Computer shares skyrocketed after the server maker said an independent review committee found no evidence of accounting wrongdoing.Natural gas prices slipped, pressuring shares of pipeline operator Targa Resources and others in the natural gas industry. Major U.S. equities indexes were mixed as December trading began, with many househ ...

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. ...