Super Micro Computer's stock saw a significant drop of nearly 20% after it announced a delay in its annual financial report for fiscal year 2024, raising investor concerns.
The company cited the need for additional time to assess internal controls, which suggests potential issues in financial reporting, often viewed negatively by the market.
Activist short-seller Hindenburg Research accused Super Micro of accounting manipulation and sanctions evasion, claiming to have found substantial evidence of undisclosed related party transactions.
A representative for Super Micro stated that the company does not comment on the ongoing rumors and speculation surrounding its financial practices and the short-seller's report.
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