Proterra Sinks Most Since December After Delayed 10-K Filing

Proterra Inc. drops as much as 13%, the biggest intraday decline since Dec. 27, after reporting a delay in filing its 2022 annual report and noting management needed time to assess the company’s ability to continue as a going concern.

• “The Company requires additional time to complete its financial statement preparation and review process, including regarding management’s assessment of the Company’s ability to continue as a going concern,” said the notification of late filing.
• “The Company expects to report material weaknesses in its internal control over financial reporting as of December 31, 2022 based on deficiencies affecting multiple processes” ...