A shareholder class action complaint has been filed against AppHarvest, Inc. (“AppHarvest” or the “Company”) (NASDAQ: APPH) on behalf of investors who purchased shares of the Company’s securities between May 17, 2021 through August 10, 2021 (the “Class Period”).
On August 11, 2021, AppHarvest announced its second quarter financial results, reporting a $32.0 million net loss. The Company also lowered its full year sales guidance to a range of $7 million to $9 million, from a previous range of $20 million to $25 million. The Company attributed the lower than expected results to “operational headwinds with the full ramp up to full production at the company’s first CEA facility, including labor and productivity challenges related to the training and development of the new workforce and historically low market prices for tomatoes.”
Following this news, shares of AppHarvest’s stock fell $3.46, or approximately 29%, to close at $8.51 per share on August 11, 2021, on unusually heavy trading volume.
IMPORTANT DEADLINE: Investors who purchased AppHarvest’s securities during the Class Period may, no later than November 23, 2021, seek to be appointed as a lead plaintiff representative in the action.
AppHarvest investors who suffered an investment loss in excess of $100,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by completing the information form on this page, for additional information about the opportunity to actively participate in the action as a lead plaintiff representative.