Super Micro Computer Inc. (SMCI) stock plummeted after JP Morgan analyst Samik Chatterjee downgraded the rating from Overweight to Neutral and lowered its price target. The analyst cited the company’s delayed 10-K filing and lack of visibility on its return to compliance as major concerns, leading to a near-term negative outlook on the company’s financial performance.
Following a new Hindenburg report alleging that SEBI Chairperson Madhabi Puri Buch was involved in an Adani money siphoning scandal through offshore entities, Adani Group stocks plummeted on Monday, August 12. The report, released on August 10, claimed that Buch and her husband held stakes in these entities. The Adani Group denied the allegations, calling them malicious and manipulative. Buch and her husband also released a joint statement asserting that the investment in question was made in 2015, prior to her joining SEBI. The incident has sparked a political controversy, with the opposition demanding an investigation.
