This smci could easily be a single digit stock next month. Too risky to go long even though they keep bidding it up.
There's another thread I started a few weeks ago on SMCI in which I linked the Hindenburg Report that sparked the stock collapse. It's a good read for anyone trading it. I'd been doing well day trading the 30-35 range and was holding on expecting a big rally when they announced their numbers. When that fizzled I sold off and before I had time to buy back, it had its delayed jump to 48, then 50, then 60. Totally missed it and at this point I won't try to get back in until after the announcement Tuesday. The volatility is way too great to risk an either/or moment. Beside, there's a significant volume of bag holders looking to dump their holdings on any rally.
Here is my issue. Why would Ernst and Young walk away and refuse to do business with SMCI ? Maybe they didnt like the taste of the coffee SMCI served them when they would stop by for meetings? Was it because they were jealous of the success of SMCI? Or was it because they saw something with their accounting that they didnt approve of and wanted no part of? I know what Im going with and it aint the coffee.
Supermicro Files Form 10-K for Fiscal 2024 and Forms 10-Q for the First and Second Quarters of Fiscal 2025 Here is the file
Supermicro is a good operational company. However they have these accounting problems in the past. I've owned it off & on since 2015. Looks like they don't like outsiders reviewing their occasional shenanigans. I grew up partly in southern Fremont and their headquarters were a few miles away right next to Applied Materials & Ultratech Stepper. If you want to build cheap storage servers Supermicro is the best & cheapest especially if you get their old servers off eBay. They are really the only independent server maker besides the behemoths like Dell or HPE. ASRock (minority owned by Asus) is probably the only other small player doing similar things but Supermicro still sells the best storage server hardware. People who think they are not competent because of the accounting issues don't know much about their history. The talking heads on Bubblevision never understood that and thought it was going to zero.