LTCH - Is This Stock a Buy After Falling 79% From Its All-Time High?
Almost all special-purpose acquisition companies (SPACs) that came public in 2021 have been clobbered. As of November 2021, SPACs had dropped an average of 9.9% in price from their merger dates, and that does not account for the volatile start to 2022.
One SPAC that stood out during this drawdown, however, was Latch (NASDAQ: LTCH) . Latch provides smart-lock technology to large-scale apartment buildings. It also has a high-margin software business that allows landlords to overlook their apartments to ensure safety and security. Latch's impressive products haven't made the stock immune to drops, however: Shares are down almost 79% from their all-time high set in September 2021.
The company might have lost a little spark after reporting its fourth-quarter earnings on Feb. 24, however, which revealed some risks that might deter you from buying today.
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Is This Stock a Buy After Falling 79% From Its All-Time High?