Why Latch Stock Fell 26% in 2021

Shares of Latch (NASDAQ: LTCH) took a dive after investors were underwhelmed by early results from the property tech company that went public through a special purpose acquisition company (SPAC). Despite rapid growth from the company, the market generally soured on SPACs in the second half of the year, and high-growth stocks underperformed.

According to data from S&P Global Market Intelligence, the stock finished the year down 26%. As you can see from the chart below, Latch stock fell sharply over the last three months of the year in line with a broader market trend.

Source Fool.com