There is good news for Super Micro shareholders! Following the filing of delayed regulatory documents, Super Micro's share price has $SMCI (+1,1 %) gained up to 15.5% in after-hours trading. This came after the company met Nasdaq's deadline to avoid delisting.
On Tuesday after market close, Super Micro filed updated quarterly reports for the fiscal year ended June 30, 2024, as well as for the quarters ended September 30, 2024 and December 31, 2024.
Previously, the stock fell 11.8% in regular trading. Super Micro's problems began last year when short-seller Hindenburg Research reported alleged accounting manipulation. These allegations led to a dramatic fall in the share price and an investigation by the Department of Justice.
Despite the difficulties, Super Micro denied the allegations and hired a new auditor. An independent review also found no evidence of wrongdoing. Is Super Micro now on the road to recovery?
