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I’ve been yammering on and on about SMCI as a terrific short for weeks, and today we get this news:
BREAKING: Super Micro Computer stock, $SMCI, crashes over 8% after Hindenburg research accuses company of accounting manipulation.
— The Kobeissi Letter (@KobeissiLetter) August 27, 2024
Hindenburg claims that their 3-month investigation uncovered accounting red flags.
They are now short of the stock which is down over 50% from its… pic.twitter.com/aX0jY3umSw
That right triangle nailed it!
Isn’t it comic that, near its price peak, the powers that be decided to push this into the hallowed halls of the S&P 500?
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