The NASDAQ index was up 245.13 points at its session highs this morning, and moved to down -10.47 points.
It is currently trading up 32 points or 0.18% at 18115.90.
Helping to contribute to the declines was a report from the Wall Street Journal that Super Microcomputers was under investigation for accounting irregularities:
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Super Micro Computer (SMCI) is being investigated by the Justice Department following a report by Hindenburg Research.
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The probe is in its early stages and focuses on accounting violations allegedly connected to a former employee.
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The former employee, Bob Luong, filed a whistleblower lawsuit against Super Micro and its CEO.
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Super Micro paid $17.5 million to settle SEC claims of accounting violations in 2020.
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The company has yet to file its fiscal 2024 annual report with the SEC.
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CEO Charles Liang denied the short-seller report’s accuracy.
Shares of SMCI are trading down $50 or -10.77% at $408.
The Dow industrial average is still up 200 points or 0.48%. The S&P index is up 17.51 points or 0.3%