A major selloff of the server company’s shares looks like it may continue into a second day after news broke that its auditor has resigned. Shares in Super Micro Computer, Inc. (Nasdaq: SMCI) have had a roller coaster of a year,

Super Micro Computer (SMCI) shares were active in late trading on Tuesday after the embattled artificial intelligence server maker reported fiscal first-quarter results. Read for more.

Analysts at Mizuho fear that the lack of an auditor (and possible challenges in getting a new one) could lead to a delisting from the Nasdaq exchange. This could dramatically reduce Supermicro's liquidity by forcing it to trade over the counter, a designation that could make shares harder to access, likely hurting the company's valuation.

As an aside, SNAP jumped post earnings yesterday - see “ Should You Buy, Sell, Or Hold SNAP Stock At $12? In our recent analyses, we argued for a range of outcomes. On one hand, there is potential for the stock to rise over 2x to $1,

Super Micro says its special committee has so far found that its audit committee “acted independently and that there is no evidence of fraud or misconduct on the part of management” or the board.

Super Micro Computer said on Tuesday it cannot predict when it would file its annual report with the U.S. Securities and Exchange Commission and that the results of a special committee probe showed there was no evidence of fraud on the part of management or the board.