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Super Micro stock jumps on conference call announcement

Published 04/02/2025, 13:16
© Reuters.
SMCI
5.12%

Investing.com -- Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) climbed 7% after the company announced a conference call and webcast for its second quarter fiscal 2025 business update. The market’s positive response reflects anticipation regarding the company’s upcoming financial disclosures, following a period of compliance challenges with Nasdaq’s listing requirements.

Super Micro has been working diligently to meet Nasdaq’s stipulations, with a deadline set for February 25, 2025, to file its annual report for the fiscal year ended June 30, 2024, and its quarterly report for the period ended September 30, 2024, along with all other necessary filings. The company has expressed confidence in meeting this deadline and maintaining its listing on the Nasdaq Global Select Market.

The call, scheduled for Tuesday, February 11, 2025, comes after Super Micro appointed BDO USA, P.C. as its new independent auditor in November 2024. The engagement of BDO, a member of one of the world’s leading accounting networks, was a strategic move by Super Micro’s Audit Committee to expedite the process of bringing its financial statements up to date.

Charles Liang, President and CEO of Super Micro, previously commented on the appointment of BDO, stating, "We are pleased to welcome BDO as Supermicro’s independent auditor. BDO is a highly respected accounting firm with global capabilities. This is an important next step to bring our financial statements current, an effort we are pursuing with both diligence and urgency."

Investors appear to be responding to the company’s proactive measures to regain compliance and its commitment to transparency in its financial reporting. As Super Micro approaches its reporting deadline, the market will be closely watching for the company’s ability to fulfill its assurances and the potential impact on its financial health and stock performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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