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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.

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