LTCH - What Went Wrong With Latch Stock?
2020 and 2021 were the years of the SPAC . Called special purpose acquisition companies, these investment vehicles helped hundreds of companies go public quickly in the post-pandemic stock boom. A lot of these stocks put out huge investor presentations saying they would grow revenue in the triple-digits for the foreseeable future, garnering expensive valuations in the process. One of these stocks was Latch (NASDAQ: LTCH) , a smart-lock technology company for apartment buildings. But investors have soured on the stock as it has failed to meet its growth projections.
In less than a year, Latch stock has fallen around 80% from its SPAC merger price, and now sits at only $2.13 a share at the time of this writing. What went wrong for Latch in the last 12 months?
For further details see:
What Went Wrong With Latch Stock?