View Inc falls as Raymond James downgrades on filing delay

View

29/03/2022 17:31

** Shares of tech co View Inc  VIEW.O  fall 7.4% to $1.98 in
afternoon trading 
    ** Raymond James downgrades rating to "market perform" from
"outperform" following another delay in release of co's restated
financials, results of 2021
    ** Co on Monday said it expects to complete its financial
restatement and release full-year 2021 and Q1 2022 results in
May vs previously forecast release in March  urn:newsml:reuters.com:*:nGNX7dGQlX 
    ** Brokerage says even for long-term investors, patience is
being tested and adds that if the overhang persists, it will be
more difficult for co to regain investor trust
    ** Also warns that the longer the financials are delayed,
the higher is the risk of a "going concern" statement, which is
never a good thing optically 
    ** Stock had fallen ~50% so far this year

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))