(Bloomberg) — Super Micro Computer Inc. shares tumbled on Tuesday after Hindenburg Research said it’s short the maker of server equipment.
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The stock fell as much as 8.7% after Hindenburg Research wrote that an investigation into the company revealed “glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control failures, and customer issues.”
Super Micro did not immediately respond to a request for a comment.
While the company’s shares have receded more than 55% from a peak of $1,229 in March, they remain up more than 80% for the year. The stock has become a favorite of AI investors due to the strong demand for equipment that powers AI software, like the servers made by Super Micro.
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