According to Zhitong Finance APP, on Monday, the stock price of super micro computer (SMCI.US) surged by 28.72%, closing at $42. Previously, the independent committee appointed by the company's board of directors released the results of its investigation into its financial accounts. The investigation found no evidence of fraud or misconduct. This bullish news led to a significant jump in its stock price, recovering some of the losses incurred from a 6.9% drop in stock price last Friday.

Although the large cap performance varied that day, with the dow jones down 0.29% and the s&p 500 index slightly up by 0.24%, the performance of super micro was particularly remarkable. However, despite its stock price rising by 64% in the past month, it is still down 3% compared to three months ago.

The company announced it would immediately begin searching for a new chief financial officer. Current CFO David Weigand will continue to hold the position until his successor is appointed.

With the rise of ai, super micro has garnered market attention due to increased demand for its AI application servers. However, the company also faces some challenges, including failure to submit financial reports on time and changing auditors. In the 19 trading days in November, the stock experienced a fluctuation of over 10% on 10 of those days.

On Monday, the company stated that the special committee has completed a comprehensive review and confirmed that the conclusions raised by the former auditor upon resignation "are inconsistent with the facts discovered during the review." This statement boosted market confidence.

Needham analyst N. Quinn Bolton commented, "We believe these measures are an important step in the right direction." However, he added that the "rating remains on hold" until the company completes its financial reporting and submits it in a timely manner.

At present, a financial review conducted by the independent auditing firm BDO is underway. Previously, the company's auditor, Ernst & Young, resigned. Super Micro stated that it expects to submit its financial reports on time and does not need to revise past financial reports. However, due to the failure to submit the annual financial report and the most recent quarterly financial report on time, the company still faces the risk of being delisted from the nasdaq.

It is worth mentioning that the world's largest hedge fund, Bridgewater Associates, increased its shareholding in Super Micro during the third quarter, while also increasing its shareholding in Palantir Technologies (PLTR.US) and Advanced Micro Devices (AMD.US), but reduced its shareholding in nvidia.