I wanted to revisit the short report I made on $KIND 3 months ago. Since highlighting material issues with the company in February, Nextdoor has lost over 44% of its value and fallen over 10% below the bear price target I initially modeled.
While in tracking my aggregate performance I covered the “position” on April 26th due to the risk/reward from my initial target shifting to neutral/unfavorable, the stock falling this much further is reasonable considering the company’s primary growth driver was expansion in Europe. Considering they generate revenue from ads, the war in Ukraine has caused material decreases in European advertising spend, impairing the company’s growth substantially.
I’d recommend taking a look at my original post, I still believe the original ideas hold true