A major selloff of the server company’s shares looks like it may continue into a second day after news broke that its auditor has resigned. Shares in Super Micro Computer, Inc. (Nasdaq: SMCI) have had a roller coaster of a year,

Supermicro is benefiting significantly from artificial intelligence (AI) tailwinds. It builds full-scale servers and other components that are sold to companies looking to expand their AI computing power. Although it hasn't received quite the same press as Nvidia, it remains one of the biggest winners among AI stocks.

Super Micro Computer Inc (NASDAQ:SMCI) shares are tumbling Wednesday after the company reported preliminary financial results and provided a business update. JPMorgan also downgraded the stock and slashed its price target.