Super Micro Faces Turmoil as Stock Plummets Amid Auditor Resignation

The tech company's rapid rise and fall highlights concerns over AI hype and financial scrutiny.

Super Micro's stock has dropped 72% since its peak, raising doubts about the sustainability of AI-driven market gains.
Ernst & Young resigned as Super Micro's auditor, citing unwillingness to associate with the company's financial statements.
Super Micro risks delisting from Nasdaq if it fails to comply with financial reporting requirements by mid-November.
A special committee is investigating financial concerns raised by the auditor, with ongoing probes by law firms and forensic accountants.
Family ties and complex business relationships within Super Micro add layers of intrigue to the financial and governance issues.