Pinstripes, Inc. (PNST) has disclosed a new risk, in the Accounting & Financial Operations category.
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Pinstripes, Inc. is facing significant uncertainty regarding its ability to continue operations, as highlighted by concerns over meeting current financial obligations related to capital expenditures, lease commitments, and ongoing operations within the next year. The company’s financial projections, particularly those involving the performance of newly opened stores, contribute to this uncertainty. In response, management is seeking additional financing and capital raising efforts, with plans to address these issues by the end of the fiscal third quarter. However, there is no guarantee that these efforts will succeed, and failure to secure the necessary capital could severely impact the company’s financial health and stock price.
Overall, Wall Street has a Moderate Buy consensus rating on PNST stock based on 2 Buys.
To learn more about Pinstripes, Inc.’s risk factors, click here.