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2021-08-11

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Why AppHarvest Shares Are Getting Slammed Today

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

Why AppHarvest Shares Are Getting Slammed Today

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The company reported quarterly revenue of $3.1 million, which came in below the estimate of $5.87 million.</p>\n<p>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.</p>\n<p>“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,”&nbsp;said&nbsp;<b>Jonathan Webb</b>,&nbsp;founder and CEO of AppHarvest.</p>\n<p>AppHarvest is an agriculture technology company&nbsp;engaged in developing and operating controlled environment indoor farms.</p>\n<p><b>Price Action:</b> AppHarvest is making a new 52-week low in trading today.</p>\n<p>At last check Wednesday, the stock was down 38.30% at $7.39.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2158528016","content_text":"AppHarvest Inc (NASDAQ:APPH) is trading significantly lower Wednesday after the company announced worse-than-expected second-quarter financial results and cut guidance.\nAppHarvest 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.\nAppHarvest 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.\n“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.\nAppHarvest is an agriculture technology company engaged in developing and operating controlled environment indoor farms.\nPrice Action: AppHarvest is making a new 52-week low in trading today.\nAt last check Wednesday, the stock was down 38.30% at $7.39.","news_type":1},"isVote":1,"tweetType":1,"viewCount":386,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}