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Shares of Super Micro Computer Inc (NASDAQ:SMCI) rose in Wednesday’s premarket session.
The stock is attempting a recovery following a volatile week. Prices hit a 52-week low last Friday, plunging over 33%.
Smuggling Allegations Shake Board
The company faces intense scrutiny after co-founder Yih-Shyan “Wally” Liaw resigned from the board. Federal prosecutors accused Liaw of smuggling NVIDIA Corp (NASDAQ:NVDA) AI servers to China.
The indictment alleges the group used shell entities and “dummy” equipment to bypass U.S. export controls.
Super Micro stated it placed certain employees on leave and appointed DeAnna Luna as acting chief compliance officer.
Super Micro’s future remains tied to its access …
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