Supermicro Shares Surge on Good News
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audit committeeThe Motley Fool
•Super Micro Computer Pops on Good News. Is the Stock Safe to Buy Now?
76% Informative
Shares of Super Micro Computer (NASDAQ: SMCI ) were surging today after the company gave investors a favorable update from its independent special committee.
The report found no evidence of misconduct by management or the board of directors.
As a result, the stock was up 15.6% as of 10:23 a.m. ET .
The committee's report implies that the company's accounting problems are related to its rapid growth, rather than any nefarious intent.
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