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SMCI lost 60% after its auditor failed to audit and resigned after that, it roses 300% SMCI is also a target of hindenburg https://hindenburgresearch.com/smc
by suraci 2y ago
SMCI lost 60% after its auditor failed to audit and resigned
after that, it roses 300%
SMCI is also a target of hindenburg
https://hindenburgresearch.com/smci/ https://hindenburgresearch.com/smci/
before this, I didn't even know that a company that couldn't be audited could still be listed.
- coliveira 2y agoAuditing a company is not a normal procedure. Many companies, even in the S&P500, may have trouble during an audit. I remember there was a serious report about GE at one time, they decided to split the company as a response.
- fitchjo 2y agoBy law, any public company in the US (and most other countries) are required to have a financial statement audit. I am sure there are instances where it is not required, but substantially all private companies that have debt are required per their credit agreement to have a financial statement audit completed. I would be interested where you are getting your information that auditing a company is not a normal process.
- howlingfantods 2y agoPublic companies have to undergo a financial audit every year. If you’re referring to a tax audit from the IRS, then yes, those are rarer.