SMCI 📈 Super Micro Computer
SMCI has taken a significant hit, dropping more than 8% following serious allegations from hindenburg research, a financial research firm specializing in investigating and exposing potential financial fraud, according to their three month investigation, there are major red flags in SMCI accounting practices, the firm has now taken a short position against the stock, which is down over 50% from its peak and has fallen more than 15% just since August 16, going from a high of $1,230 to its current price of $547.📄 Hindenburg’s report uncovered signs of accounting manipulation, undisclosed transactions, and even issues with sanctions and export controls, additionally it is claimed that executives who left the company due to previous scandals have been rehired.
📊 This year, the stock was soaring, rising from around $290 in January to over $1,200 in March, thanks to its role in the AI boom and partnerships with companies like
NVDA but now, even with a recent 10 for 1 stock split, the price continues to struggle and has dropped significantly.👁️ So, if you’re keeping an eye on
SMCI, it’s now a matter of waiting for a clear sign that things are stabilizing before investing, hindenburg’s bearish stance and ongoing issues with the company could mean more volatility ahead, it’s a critical time for SMCI and patience might be key for those looking to play the long game.📚 I made a post about the pump and dump pattern and I did it on
SMCI here’s the analysis again so you can see how stage 7 is developing. Do you think it will follow the pattern?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.