Investment Manager's Analysis: Super Micro Computer Denies Short-Seller Claims, Shares Rise
Super Micro Computer (NASDAQ:SMCI) has denied claims made by short-seller Hindenburg Research in its recent report, stating that the report contained "false or inaccurate statements" about the AI server maker. In response, Super Micro has stated that the report had "misleading presentations of information that we have previously shared publicly."
Despite the allegations, Super Micro's shares rose more than 2% in early trading. The company has indicated that it will address the statements made in the report "in due course," without providing further details.
Hindenburg Research had accused Super Micro of "accounting manipulation" and cited evidence of undisclosed related-party transactions and failure to comply with export controls, among other issues. Following the report, Super Micro delayed the filing of its annual report, causing its shares to tumble about 19%.
Super Micro has reiterated that it does not expect any material changes in its financial results for the fourth quarter or fiscal year due to the delay in the filing of its annual report. CEO Charles Liang reassured that the company's production capabilities remain unaffected and continue to meet customer demand.
In conclusion, investors should be cautious when considering Super Micro Computer as an investment option due to the allegations made by Hindenburg Research. It is essential to monitor the situation closely and wait for further updates from the company regarding the issues raised in the report. This development can impact the company's stock performance and financial standing in the near future.
