Today was Appharvest’s 2nd quarter earnings report. As expected, the stock tanked.
Management reported revenues hurt by low tomato prices and bad growing results, plus they’re changing the company structure of the SPAC thats less than a year old. Seems like they should have known the ideal structure from the get-go. In 5 years they’re talking about ebita around 115 to 130 million, and are currently valued at ~850 million with ~295 million in cash that should be spent up quickly as they grow.
That all being said, I’m always interested in taking a look at a stock when it falls this quickly because companies don’t change value that fast overnight (normally). Can anyone justify the current price or a higher price with math and not hopes and dreams? As it stands I feel ~$3 would be where I’d be comfortable on this speculative new business.
Submitted August 11, 2021 at 07:59PM by ORCoast19 https://ift.tt/3lVjJT1
