Super Micro Appoints New Auditor to Avoid Delisting

Super Micro Computer's stock surged by over 30% after the company appointed BDO USA as its new auditor and submitted a compliance plan to Nasdaq to avoid delisting. This move follows the resignation of its previous auditor, Ernst & Young, over governance and transparency concerns. Super Micro aims to meet regulatory deadlines by filing overdue financial reports for the fiscal year ending June 30, 2024, and the quarter ending September 30, 2024. If the plan is accepted, it could extend the company's deadline to February, allowing it to maintain its Nasdaq listing. The company has faced stock volatility, losing significant value since its peak in March, but recent developments have sparked investor optimism. As a key player in AI hardware, Super Micro integrates Nvidia's technology into its servers, benefiting from the AI industry's growth.