Super Micro Computer Inc. had an incredible run in the stock market, with its value skyrocketing by over 2,000% in just two years. However, the company’s stock has since plummeted by 72%, raising concerns about the hype around artificial intelligence. Super Micro’s auditor, Ernst & Young, resigned, and the company is at risk of being delisted from the Nasdaq. The company’s financial reporting delays and potential accounting manipulation have led to increased scrutiny. Wall Street’s sentiment towards the company has shifted, and analysts are cautious about its future. The incident has implications for the S&P 500 index and highlights the risks associated with rapid stock price appreciation.
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