Super Micro Computer may be on the verge of being removed from the Nasdaq as early as Monday. That is the server company’s possible outcome if it does not submit a workable plan to comply with Nasdaq rules.
Super Micro has not yet changed its accounting firm and submitted its 2024 year-end report to the SEC on time. When Super Micro announced its preliminary quarterly results last week, many investors were prepared for clarification. But they failed to grasp it.
The main focus of that plan is the timing and method of Super Micro’s 2024 year-end report submission to the Securities and Exchange Commission, as well as the reasons behind the late submission. The report was not filed with the company’s June fourth-quarter earnings, which many people had anticipated.
Super Micro, one of the main winners of the artificial intelligence boom because of its long-standing partnership with Nvidia and the growing demand for the chipmaker’s graphics processing units, is at a crossroads with the Nasdaq delisting process.
Source (CNBC)
