Server maker Super Micro Computer stock (NASDAQ: SMCI) extended its recent rally, gaining close to 29% on Monday.

Super Micro Computer’s stock (SMCI) has been at the center of controversy in recent months due to accounting fraud allegations from a

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,

Supermicro says independent review did not find evidence of fraud. Supermicro stock has well over doubled since mid-November.

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Just over a month after Ernst & Young resigned as its public accounting firm, Super Micro Computer says a review committee has found no evidence of fraud or misconduct among the server maker’s leaders

George Tsilis says Super Micro Computer's technology is not unique. Elon Musk has reportedly switched from SMCI to Dell for AI servers.

Ernst & Young (EY) resigned in October after raising concerns about transparency and governance, prompting the review.

Super Micro Computer soared Monday after a special committee's review found no evidence of misconduct. EY had resigned as auditor in October.

The AI server maker’s shares were once again leading the S&P 500’s biggest gainers early Tuesday, jumping 7% ahead of the open.

Key Takeaways Supermicro shares jumped nearly 30% Monday after the server maker announced that an independent review of its accounting practices found no wrongdoing. The stock has reclaimed the lower trendline of a descending broadening formation that has been in play since the stock topped out in early March.