APPH - Why Shares of AppHarvest Fell 25.5% in July
AppHarvest (NASDAQ: APPH) stock's gradual decline continued in July following a hot special purpose acquisition company (SPAC) IPO earlier this year. Shares of the agricultural tech start-up fell another 25.5% last month. Shares were down nearly 67% from their debut following the SPAC merger in early February.
AppHarvest is a rare play on food and farming technology. It specializes in "controlled environment agriculture" -- basically, indoor farms that utilize technology to increase yields from fruits and vegetables by 30 times per acre, while using 90% less water than traditional farming methods.
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Why Shares of AppHarvest Fell 25.5% in July