|Company Name||AppHarvest, Inc.|
On August 11, 2021, AppHarvest announced its second quarter 2021 financial results, reporting a $28.5 million net loss and a $4.5 million gross loss. The Company also lowered its full year sales guidance to the range of $7 million to $9 million from a prior range of $20 million to $25 million. AppHarvest attributed the shortfall to labor training and productivity challenges.
On this news, AppHarvest’s stock price fell $3.46 per share, or nearly 29%, to close at $8.51 per share on August 11, 2021, thereby injuring investors.
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