Super Micro Shares Turn Negative for 2024 After Auditor Resignation
- The one-time AI favorite more than quadrupled early this year
- Argus downgraded the shares following the auditor news
Super Micro Computer headquarters in San Jose, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Super Micro Computer Inc. shares turned negative for the year on Thursday, as cascading concerns about the server maker’s finances continued to weigh on the stock.
Shares fell 16% on Thursday, building on the previous session’s slump of about 33%. The week’s selloff came after Ernst & Young LLP resigned as the company’s auditor, citing concerns about governance and transparency.