Super Micro Computer's stock price falls sharply due to worries about accounting and delays in regulations.
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Super Micro Computer, a technology company, had a bad day on Wednesday. The company's stock price dropped a lot after it said it needed more time to finish its financial report.
Super Micro makes servers, which are like powerful computers used by businesses. The company said it needs more time to check if its financial records are accurate.
This announcement came after a group called Hindenburg Research accused Super Micro of manipulating its financial numbers. Hindenburg said they believe the company's stock price will go down.
Super Micro was in trouble before in 2018 for similar problems with its financial reporting. The company had to pay a big fine and was even temporarily removed from the Nasdaq stock exchange.
Despite these issues, Super Micro had been doing well recently because of the growing popularity of artificial intelligence. The company's servers are used in AI applications, and its revenue had been increasing significantly.
Questions
What happened to Super Micro Computer's stock price?
The stock price dropped a lot after the company said it needed more time to finish its financial report.
What does Super Micro make?
Super Micro makes servers, which are powerful computers used by businesses.
What did Hindenburg Research accuse Super Micro of?
Hindenburg Research accused Super Micro of manipulating its financial numbers.
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