Supermicro Stock Plunges After Auditor Resigns

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Supermicro Shares Plunge

The Motley Fool

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Supermicro Shares Plunge Again. Time to Buy the Dip or Stay Away?

Summary

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71% Informative

Supermicro Computer (NASDAQ: SMCI ) plunged on news that its auditor has resigned.

The stock has bounced around like a ping-pong ball this year , with a number of extreme moves to both the upside and downside.

The latest plunge in Supermicro stock stems from its auditor, Ernst and Young , resigning, with the accounting firm saying it was "unwilling to be associated with the financial statements prepared by management" Supermicro is a real company that has been benefiting from the artificial intelligence ( AI ) infrastructure buildout.

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