The Situation

Latch Inc (NASDAQ: LTCHW) shares – a company that provides keyless security systems, especially for apartment-style buildings – spiked on Tuesday upon expectations for its earnings report. As of 12:00 PM ET, Latch shares spiked by 47.69%.

The Explanation

Latch Inc officially went public on June 7, 2021, reaching a post-IPO all-time high of $14.05 on September 17, 2021, but dropped by 92.62% overall. Shares dropped by 90.23% year-to-date at the price of $0.75.

The company is expected to release its earnings report on December 14, 2022, which is expected to come from an algorithm based on its historical dates report. This comes shortly after the company announced a change in Directors and Principal Officers.

See the $LTCHW chart performance here.

The Effect

Latch Inc stock spiked as investors anticipated the release of the company's earnings report. The investors' reaction happened despite not officially knowing whether the company would report positive or negative earning results. Since investors can't know for sure whether the company will beat its estimates, it is more important to focus on Latch's business.

See full $LTCHW flow at: https://unusualwhales.com/stock/LTCHW/flow-overview