Super Micro Computer (SMCI) saw its stock plunge 19% after announcing a delay in filing its annual report for the fiscal year ending June 30. The decline followed a critical report from Hindenburg Research, which accused the company of accounting manipulation, undisclosed related-party transactions, and failures linked to sanctions and export controls. The report also noted the rehiring of executives previously involved in scandals and highlighted ongoing issues despite a $17.5 million SEC settlement in 2020. After the report’s release, CFRA downgraded the stock from Buy to Hold. Despite the recent downturn, SMCI’s stock is still up about 50% year-to-date.