NVDA
NVIDIA
-- 124.920 TSLA
Tesla
-- 292.980 PLTR
Palantir
-- 84.920 SOUN
SoundHound AI
-- 10.820 AMD
Advanced Micro Devices
-- 99.860 
Too much noise 2 days before stock split
As of 27 September 2024, Super Micro Computer Inc. (SMCI) is facing significant challenges despite its strong financial performance earlier in the year.
1. The stock has dropped sharply following news of a U.S. Department of Justice (DOJ) probe into allegations raised by short-seller Hindenburg Research. The accusations revolve around improper revenue recognition, with a former employee, Bob Luong, filing a whistleblower lawsuit in April 2024 against SMCI and its CEO.
This DOJ investigation has significantly impacted investor sentiment, driving the stock down by over 12% on September 26, 2024 ,Super Micro Computer, Inc. - Supermicro Announces Fourth Quarter and Full Fiscal Year 2024 Financial results
However, financially, SMCI remains strong. For fiscal year 2024, the company reported impressive revenues of $14.9 billion, a substantial increase from $7.1 billion in 2023. Their net income for the year stood at $1.2 billion, reflecting robust growth in demand for AI and data center solutions [oai_citation:1,Super Micro Computer, Inc. - Supermicro Announces Fourth Quarter and Full Fiscal Year 2024 Financial Results
2. While the company’s fundamentals are solid, the legal uncertainties are currently weighing heavily on the stock's performance. Investors are watching the outcome of the probe closely, and it could continue to influence market sentiment in the coming weeks.
This DOJ investigation has significantly impacted investor sentiment, driving the stock down by over 12% on September 26, 2024 ,Super Micro Computer, Inc. - Supermicro Announces Fourth Quarter and Full Fiscal Year 2024 Financial results
However, financially, SMCI remains strong. For fiscal year 2024, the company reported impressive revenues of $14.9 billion, a substantial increase from $7.1 billion in 2023. Their net income for the year stood at $1.2 billion, reflecting robust growth in demand for AI and data center solutions [oai_citation:1,Super Micro Computer, Inc. - Supermicro Announces Fourth Quarter and Full Fiscal Year 2024 Financial Results
2. While the company’s fundamentals are solid, the legal uncertainties are currently weighing heavily on the stock's performance. Investors are watching the outcome of the probe closely, and it could continue to influence market sentiment in the coming weeks.
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