RE:RedI believe a desire among invesotrs to see financial information plays a big part.
However, as I've said before, EATS acts as an ETF - it's revenue stream is from building equity in its portfolio - and given that 7/9 of their portfolio companies are private we cannot expect and probably will not get a full concrete picture of how much equity they have raised through those private investements until those private companies IPO.
As of news this morning Nabati, which EATS owns 14% of, is restructuring to go public. That could light a fire under EATS stock! https://mail.google.com/mail/u/0/#inbox/FMfcgxwLswJPmLWhvlzltlHDXFKHTnfq
When Eat Just goes public, which could happen within 2021 according to the CEO of Eat Just, then we will really see EATS sp up into the 5-10$ range.
Anyway, with the recent shifts away from stocks that rely on unknown future profits, its not surprising that some investors are feeling bearish amidst the uncertainty of EATS. IMO, if you dont mind a 6-9 month hold window and a bit of uncertainty, getting in at < $3 presents a set up to make a great return.