SMCI stock price surges 34%: ‘No evidence of misconduct,’ but Super Micro Computer isn’t out of the woods yet

The company’s shares have swung up and down since accounting giant Ernst & Young resigned as its auditor in October after losing confidence in its financial reporting.

Shares of Super Micro Computer, Inc. (Nasdaq: SMCI) stock surged more than 34% in midday trading on Monday after a special committee found “no evidence of misconduct” and the company announced a new chief accounting officer and that it was seeking a new chief financial officer.