Yesterday SMCi submitted a compliance plan to avoid delisting, which includes hiring a new auditor. I think SMCI should be considered a very risky trade with a lot of red flags surrounding the honesty of their financial statements. In terms of price action, SMCI has rebounded at a key support level at this white trendline around $18. For those who want to buy SMCI at a discount, I still think the price is cheap despite yesterday’s strong rebound. I personally just see too much risk and I’m not interested in buying. For now I would monitor to see if the new auditor makes any statements about SMCI’s accounting practices.

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