Super Micro Computer Shares Are On The Rise: What’s Going On? – Super Micro Computer (NASDAQ:SMCI)

Super Micro Computer, Inc. SMCI shares are trading higher Thursday after the prominent short-selling firm Hindenburg Research announced its closure.

What To Know: Hindenburg, known for high-profile short reports, accused Super Micro Computer last year of accounting manipulation, sibling self-dealing, and sanctions evasion, triggering significant scrutiny of the company.

The firm, founded in 2017 by Nathan Anderson, gained attention for investigations targeting major companies, including Nikola Corp NKLA, India’s Adani Group, and Jack Dorsey’s Block Inc SQ. Hindenburg’s reports often caused steep stock price drops and legal challenges for its targets. For instance, its 2023 exposé on Adani Group led to a $100 billion market value loss, while its 2020 report on Nikola resulted in the resignation of its founder Trevor Milton.

Hindenburg’s closure, attributed to personal reasons, potentially marks the end of an influential era in short selling. The firm’s final report accused Carvana Co CVNA of accounting irregularities, allegations the company denied.

Anderson plans to document Hindenburg’s investigative methods over the next six months, aiming to inspire future market watchdogs and analysts.

SMCI Price Action: Super Micro Computer shares were up 2.3% at $31.68 at the time of writing, according to Benzinga Pro.

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