After Ernst & Young walked away, all eyes should be on its previous auditor. The risks include Nasdaq delisting.

Super Micro Computer stock (NASDAQ: SMCI) fell by about 6% in Tuesday’s trading and remains down 54% over the past month amid significant corporate governance concerns and questions about the company’s financial reporting.

The stock is now down more than 25% for the year and more than 80% from its all-time high, set earlier this year. With that kind of decline, some investors may wonder if it's a stock with some value in it. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free »