Teaches gambling on stocks thread

BigRedBuster said:
I love SMCI.  Ever time I think it's going to get back to break even......
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So, their auditor E&Y quit and they are all mad for being called out for not doing their job.  SMCI had hired E&Y after firing Deloitte last year...

Just need a new firm to come in and release the SMCI annual report!

 
teachercd said:
So, their auditor E&Y quit and they are all mad for being called out for not doing their job.  SMCI had hired E&Y after firing Deloitte last year...

Just need a new firm to come in and release the SMCI annual report!
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Why the heck would they fire Deloitte? They work for some of the biggest companies in the world.

 
ZRod said:
Why the heck would they fire Deloitte? They work for some of the biggest companies in the world.
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I'm worried about a company that has fired their auditing firm twice is a short period of time.  I've gone through many annual audits.  It seems like they are wanting the audit firm to do something they are refusing to do.

Seems like a concerning red flag.

 
BigRedBuster said:
I'm worried about a company that has fired their auditing firm twice is a short period of time.  I've gone through many annual audits.  It seems like they are wanting the audit firm to do something they are refusing to do.

Seems like a concerning red flag.
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That does seems very sketchy.

 
BigRedBuster said:
I'm worried about a company that has fired their auditing firm twice is a short period of time.  I've gone through many annual audits.  It seems like they are wanting the audit firm to do something they are refusing to do.

Seems like a concerning red flag.
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This is exactly what seems to be freaking people out!

Seems to have slowed down a bit, I thought it would get under 30 but maybe not.  

I am hoping it is back around 50 in two weeks.  But, clearly my hope has no impact!!!!!

 
Okay, Tuesday is when they report the Q1 unaudited results and that will show they are still growing revenues at over 100% y/y and that the full year non GAAP EPS will be over $4 which is higher than consensus!  

And also E&Y and all the short sellers can go F themselves!  

 
This week is going to be interesting as the election unfolds.  Here is a quote from an article on etrade that I don't think you can read unless you have access.

The gist of the article is that Buffet is sitting on a large pile of cash and warning investors that this week could be very volatile.  SMCI reports earnings tomorrow and that could be sort of crazy.

With the polls tightening over the weekend, the one certain thing this week will be the uncertainty -- particularly if the wait for a result drags on.

As if a tightly contested election wasn't enough, this week contains a Federal Reserve rate decision and a raft of earnings. The Fed is expected to cut rates by a quarter-point Thursday, but commentary around what happens in December will be of more interest.

Super Micro Computer will have tech investors on red alert when it reports earnings Tuesday after the stock tumbled last week, while a potential stimulus package from China could also land in the days ahead -- with implications for companies exposed to the world's second-largest economy.

That's a lot for markets to digest and regardless of what happens it's going to be a bumpy ride.
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