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It was delisted from NASDAQ. It's a pink sheet/OTC stock. That is the highest level of "buyer beware" caution flag you can give. They're not a foreign compan
by busterarm 8y ago
It was delisted from NASDAQ. It's a pink sheet/OTC stock. That is the highest level of "buyer beware" caution flag you can give. They're not a foreign company like Nintendo that doesn't want to go through regulatory hurdles. They haven't been able to bring their accounting up to standard for over a year.
If you think there's a "fair market value" of a company that can't meet basic financial regulatory and accounting practices that is anywhere above the price of toilet paper, then I suggest you don't put any money in the stock market.
- throwawaymath 8y agoNone of that detracts my point. The company's pre-existing financial standing is not a suitable defense for loosening the standards of due diligence in journalism. If you're in a store and you break an item that was already scratched, you don't get a pass.
- busterarm 8y agohttps://www.bloomberg.com/news/articles/2018-10-09/new-evidence-of-hacked-supermicro-hardware-found-in-u-s-telecom https://www.bloomberg.com/news/articles/2018-10-09/new-evide...
- busterarm 8y agoSMCI has 84% institutional ownership and only 20% held by insiders. Nobody really thinks it's worth anything but the large holders don't have to write down yet and probably are diversified across the industry. The market cap is like half a bil -- that's _tiny_ for a company as big as SuperMicro...even at the bil it was before the article. The stock is garbage.
- throwawaymath 8y agoAgain, that doesn't really have anything to do with my core point.