Super Micro Investors Whiplashed as Tech Firm Fights for Listing
- Bulls expect firm to avoid delisting, but some are still wary
- Nasdaq still has to approve Super Micro’s plan to stay listed
Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei.
Photographer: Annabelle Chih/BloombergThis article is for subscribers only.
A roller-coaster ride for Super Micro Computer Inc. shares is likely to continue for some time, as investors weigh the company’s next steps to avoid being delisted by Nasdaq Inc.
Shares of the server maker rose 12% Friday extending its weekly gains to 78% and notching the best week on record after it hired BDO USA as its independent auditor and filed a plan to comply with Nasdaq listing requirements. The sharp rebound in shares is the latest twist in a saga that saw the stock hit a record high in March before seeing those gains evaporate amid allegations of accounting and governance issues and filing delays.