The server maker said it believes it will be able to complete its annual report on Form 10-K within the discretionary period available to the Nasdaq staff to grant.

Super Micro Computer (NASDAQ:SMCI) stock surged over 17% in extended trading on Monday after the company said it has engaged an independent auditor and has submitted a compliance plan to Nasdaq. The company said it has engaged accounting firm BDO USA as its auditor,

After a scathing short report highlighted questionable accounting practices, the company's auditor resigned, and it has not been able to file its annual report at its expected due date. The once-loved artificial intelligence (AI) stock is showing red flag after red flag