Super Micro Computer Stock Collapse: Is the Worst Over?

Things have gone from bad to worse for Super Micro Computer (NASDAQ: SMCI). After a scathing short report highlighted questionable accounting practices, the company's auditor resigned, and it has not been able to file its annual report at its expected due date. The once-loved artificial intelligence (AI) stock is showing red flag after red flag with its business practices. Investors are acting rationally and exiting their positions.As of this writing, Super Micro Computer stock is down 82% from highs set earlier this year, wiping out billions of dollars in shareholder value. Is the worst over for this stock? Or is the company facing potential accounting fraud?Super Micro Computer stock peaked back in March. It traded slightly lower to flat for a few months, which looked like a normal price correction after zooming up 250% in just a few short months. Proclaimed a winner of the AI spending boom, the company was posting gangbuster revenue growth as a builder of data centers for third parties. Other companies would come to Super Micro Computer to build efficient data centers with advanced computer chips from the likes of Nvidia.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool