Super Micro Computer continues to slide with shares down 10% in premarket trade

Super Micro Computer (NASDAQ:SMCI) stock continued to slide, with shares down 10% in premarket trade, a day after the company delayed its 10-Q filing.

The embattled artificial intelligence server maker said on Wednesday it will be unable to file its quarterly report on Form 10-Q for the period ended Sept. 30 in a timely manner without unreasonable effort or expense.

The firm had also said it needs additional time to select and engage a new accounting firm and to prepare the Q1 2025 Form 10-Q.

SMCI is on track to record five consecutive sessions of losses.

Last week, Super Micro Computer (SMCI) issued preliminary first-results and guidance that left Wall Street expressing deep concern about the health of its company and issues related to its financial statements.

The firm could also be at risk of not being compliant with Nasdaq’s listing rules, which could lead to the company being delisted.