Super Micro has had a wild year, first getting caught up in the optimism about artificial intelligence before being dragged down by problems with accounting that saw its auditor resign.

The Super Micro Computer (SMCI) stock price has had a roller coaster this year. It initially surged to a high of $122 in March this year, up by over 345% from its lowest point in January. It then erased most of those gains and dropped to the current $32.

Super Micro Computer (NASDAQ:SMCI) shares have been on a wild ride thus far in 2024. After surging to a new all-time high in Q1 following the intense hype artificial intelligence brought to companies like Super Micro who are clear beneficiaries (a high of more than $120 per share),