Supermicro Stock Surges on Reports of Plan to Avoid Delisting – Yahoo Finance

• Shares of the supermicrocomputer soared in after-hours trading on Friday following reports that the company plans to file by Monday a postponement of its annual report that could lead to it avoiding delisting.

• Nasdaq warned Supermicro that it would be delisted if it did not submit a report or plan by Monday.

• Supermicro's stock price has been hit in recent months by regulatory concerns following allegations of accounting manipulation.

Super microcomputer (SMCI) shares soared more than 18% in after-hours trading on Friday following reports that the company was late filing an annual report that could help avoid delisting.

Report from BaronsThe company plans to submit a plan by Monday, the people said.

super micro said I received a letter Nasdaq warned on September 17 that if the company does not submit a delinquent report or plan within 60 days or by November 16, the filing date being Monday, the company will be delisted.

The company announced earlier this week: Unable to submit annual report by deadlineand the first quarter filing will also be delayed, meaning more time will be needed to prepare a statement after EY and hire a new auditor. quit my job.

Supermicro's stock price has been hit in recent months by regulatory concerns following the allegations. accounting operations There are problems such as. It had fallen more than 34% year-to-date through Friday's close.