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What will be Super Micro Computer's stock price at the end of 2024?
3
Resolution / Starting Odds
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Stock market data from financial platforms like Bloomberg or Yahoo Finance
Story
Super Micro Computer Faces DOJ Probe Over Accounting Violations, Stock Down 17.5%
Sep 26, 2024, 03:09 PM
Super Micro Computer, a server maker that experienced significant growth during the artificial intelligence boom, is being investigated by the U.S. Department of Justice for alleged accounting violations. The probe follows a critical report by the activist short-selling firm Hindenburg Research and a Wall Street Journal report. Accusations from a former employee have also surfaced, claiming accounting manipulation within the company. Super Micro's stock has plummeted, being halted multiple times and dropping as much as 17.5% in a single day, including a 13% drop shortly after the news broke. The company's market capitalization has seen a drastic reduction from $72 billion to $22 billion. This investigation has caused significant volatility in the market, affecting not only Super Micro but also its major clients, including Nvidia.
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