Interpretation of the change, the popular artificial intelligence stock, ultra-microcomputer, was "sniped" in one day, and the stock price fell nearly 28%.

Server manufacturer Super Microcomputer $Super Micro Computer (SMCI.US)$ was "sniped" by a well-known short-selling institution because it delayed the submission of its fiscal year annual report. Its share price plummeted 27.72% on Wednesday, causing widespread concern in the market.

Super Micro Computer said on Wednesday that it will postpone the filing of its annual report for the 2024 fiscal year ending June 30. The company explained that the management needs more time to evaluate the design and operational effectiveness of internal control over financial reporting. Despite this, the company has not made any changes to the previously announced annual and quarterly results.

But just a day before this announcement, Hindenburg Research, a short-selling agency, released a short-selling report saying that the ultramicro computer had "obvious accounting problems, undisclosed evidence of related party transactions, sanctions and export control failures, and customer issues".

The report pointed out that Super Micro Computer was temporarily delisted from Nasdaq in 2018 because it failed to submit financial statements on time for two consecutive years. In 2020, the U.S. Securities and Exchange Commission (SEC) also accused the company of extensive accounting irregularities, including early recognition of revenue and understatement of expenses, to artificially inflate sales, earnings and profit margins.