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Super Micro Computer CEO Charles Liang at the Computex conference in Taipei, Taiwan, on June 5, 2024
Supermicrocomputer (SMCIShares rose more than 18% in extended trading Friday, following reports that the company is expected to submit a plan for its delayed annual report on Monday that could help it avoid a delisting.
Supermicro said it received a letter from Nasdaq on September 17 warning it will be delisted if it does not file a report or plan within 60 days, or by November 16, with the weekend deadline being Monday effective date for the Nasdaq. the submission.
Earlier this week, the company said it would not be able to file its annual report on time, and that it could also delay its first quarter report, adding more time to prepare statements and appoint a new accountant after EY resigned from its management. function.
Supermicro’s shares have taken a hit in recent months due to regulatory concerns, following allegations of accounting manipulation and other issues. They fell by more than 34% this year through Friday’s closing price.
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