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SmartRent, Inc.

Company NameSmartRent, Inc.
Stock SymbolSMRT

On September 8, 2023, Bleeker Street Research published a report alleging, among other things, that the "smart" locks that SmartRent distributes "to large multi-family properties" are sourced from "a Croatian supplier that had a known security vulnerability" and stated that several employees described the company as a “mess” with a “broken culture.”

On this news, SmartRent’s stock price fell $0.27, or 8.8%, to close at $2.80 per share on September 11, 2023, thereby injuring investors.

Then, on March 5, 2024, SmartRent released its fourth quarter and full year 2023 financial results and disclosed that it was still “working through” lingering overhang from older contracts.

On this news, SmartRent’s stock price fell $0.13, or 4.5%, to close at $2.76 per share on March 5, 2024, thereby injuring investors further.

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