Super Micro Computer, Inc. ( $SMCI ) experienced significant attention and stock price volatility following a report by Hindenburg Research. Here’s what’s happening:
– **Hindenburg Report**: On August 27, 2024, Hindenburg Research released a report alleging various issues with Super Micro, including accounting red flags, undisclosed related party transactions, and potential sanctions and export control failures. This report led to an immediate negative reaction in the stock market.
– **Stock Reaction**: Initially, SMCI stock dropped as much as 8.7% upon the report’s release but later pared some of these losses, closing down by about 2.6% on the day of the report. However, the following day, August 28, 2024, the stock plunged further, reaching an over 24% drop at one point after Super Micro announced a delay in filing its annual report for the fiscal year ending June 30, 2024.
– **Annual Report Delay**: Super Micro cited the
