Super Micro Computer’s stock lost nearly a fifth of its value on Wednesday in another dark day for the once high-flying AI darling. The drop came after the server-hardware company delayed the submission of its annual financial report for fiscal year 2024, often a red flag for investors that there could be significant financial, accounting, or legal issues at a company.
Super Micro management told shareholders it needs time to complete an assessment of the internal controls of its financial reporting.
