Why AppHarvest Shares Are Getting Slammed Today

Benzinga2021-08-11

AppHarvest Inc (NASDAQ:APPH) is trading significantly lower Wednesday after the company announced worse-than-expected second-quarter financial results and cut guidance.

AppHarvest reported a quarterly earnings loss of 32 cents per share, which came in below the estimate for a loss of 19 cents per share. The company reported quarterly revenue of $3.1 million, which came in below the estimate of $5.87 million.

AppHarvest lowered its full-year 2021 revenue guidance from a range of $20 million to $25 million to a range of $7 million to $9 million.

“We believe our innovative, sustainable approach, which captures free rainwater and sunlight through large glass roofs in Appalachia and leverages world-class technology at scale while maintaining the highest ESG principles, positions our company to be a global leader in this industry,” said Jonathan Webb, founder and CEO of AppHarvest.

AppHarvest is an agriculture technology company engaged in developing and operating controlled environment indoor farms.

Price Action: AppHarvest is making a new 52-week low in trading today.

At last check Wednesday, the stock was down 38.30% at $7.39.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Ken3888
2021-08-12
Ken3888
K
- Ken3888:
  K
SeahBW
2021-08-12
SeahBW
Give it more time
- PeterLim007:
  Not Sure if It would help with more time
kent86
2021-08-11
kent86
Bt
OO_898
2021-08-11
OO_898
Like
- ALLOYHUAT:
  Ok
- Samwich:
  Ok
- pshiqi:
  :)
Wen_23
2021-08-11
Wen_23
??
Lzqqzl
2021-08-11
Lzqqzl
Give a like pls[Sly]
- minamino:
  Yes
- Weeeeeeeee:
  okay
- Huatzai:
  Ok

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