Super Micro Computer Stock Is In The Spotlight Ahead Of Q1 Earnings: What's Going On?

Super Micro Computer Inc (NASDAQ:SMCI) shares are trading higher Tuesday, bouncing back after falling nearly 50% last week after the firm’s independent auditor raised governance and transparency concerns. The company is due to report earnings after the bell.

What To Know: Super Micro Computer stock got slaughtered last week after its independent auditor Ernst & Young sent in its letter of resignation as the company's registered public accounting firm, citing concerns related to governance, transparency, and completeness of communications.

Super Micro tapped Ernst & Young in March 2023 to audit the company's financials for its fiscal year ending June 2024. The auditor resigned before issuing a report on the company's financials or the company's internal controls over financial reporting.

“We are resigning due to information that has recently come to our attention which has led us to no longer be ...