Shares of Super Micro Computer (SMCI) extended their 2024 swoon on Wednesday, with the stock dropping after the company said it would not submit its fiscal first-quarter results in a timely manner.

The IT infrastructure company released 澳洲幸运5官方开奖结果体彩网:pre🧸liminary September-quarter results earlier this month but now says it n💛eeds additional time to hire a new audit🌳or and have it review the company’s results.

Accounting firm EY 澳洲幸运5官方开奖结果体彩网:resigned as Supermicro’s auditor on Oct. 30 following 澳洲幸运5官方开奖结果体彩网:months of speculation about the company's accounting practices. Supermicro said a special committee formed by its board of director💧s found no evide👍nce of fraud or misconduct. 

Shares of Supermicro, ꦆdown roughly 5% in Wednesday trading, are down more than 25% in 2024 to around $21 apiece. Earlier this year they traded around $120.

The first-quarter filing delay comes after Supermicro said last month that it could not predict when it would file its annual report for 2024, a necessity for it to comply with Nasdaq rules. If the delays continue, Supermicro could be 澳洲幸运5官方开奖结果体彩网:delisted from the exchange altogether. 

Supermicro previously disclosed that it recei💫ved a warning letter f൩rom the Nasdaq saying it had until Nov. 16, to file or submit a plan.