Super Micro Computer, Inc. (NASDAQ:SMCI) stock is trading higher on Friday. On Wednesday the company announced that it submitted a compliance plan to Nasdaq.
The Details: Super Micro, in the compliance plan, said it believes it will be able to file both its 2024 fiscal-year earnings and its 2025 fiscal-year first-quarter earnings within Nasdaq's acceptable discretionary time.
Previously, the company reported that it was unable to file its earnings on time for multiple reasons, including the resignation of its previous independent accounting firm, Ernest & Young. The company also explained that its management team needs to time to review the company's financial statements and internal controls.
On Monday the company announced that it has appointed BDO USA as its 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," said Charles Liang, president and CEO of SuperMicro.
How To Buy Super Micro Computer Stock
By now you're likely curious about how to participate in the market for Super Micro Computer – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy 'fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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SMCI Price Action: At the time of writing, Super Micro shares are trading 11.2% higher at $33.02, per data from Benzinga Pro.
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