VIEW - View stock plunges 60% on late Q1 filing announcement

View (NASDAQ:VIEW) shares plunged ~60% after it said it would not be able to file its Q1 results on time and raised doubts over whether it would be able to continue to operate. The smart building products maker had been granted a stay on its Nasdaq delisting through the end of May 2022. Completion of its delinquent filings would have allowed it to regain compliance with Nasdaq listing requirements. View said it had not been able to finalize financial statements, or make a reasonable estimate of changes in results of operations in its financial statements at this time. The management expects to disclose doubt over View's ability to continue "as a going concern," with inadequate financial resources to fund forecasted operating costs or meet obligations for at least a year. It has a cash balance of $201M at the end of Q1 2022 with no substantial debt. Management will look to raise

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View stock plunges 60% on late Q1 filing announcement