Alpine 4 Holdings, Inc. (ALPP) CEO, Kent Wilson, Addresses Current Market Conditions and Declining Share Price

PHOENIX, AZ / ACCESSWIRE / August 29, 2023 / Alpine 4 Holdings, Inc. (NASDAQ:ALPP)

Dear Valued Shareholders,

I want to address the steady decline of our share price, share my thoughts on how we are approaching this challenge, and discuss further the new era that is upon us.

Before I begin, allow me to express my gratitude for your support in Alpine 4 Holdings. The journey of our company has been marked by both successes and challenges, and it's during these times that the strength of our collective ingenuity and perseverance truly shines through. It is our strength and perseverance that guided the comments in my Q2 shareholder letter: "A new era has begun at Alpine 4." Today, it's time to delve into what that statement truly entails and how our journey thus far illuminates the path ahead.

The Crucible of Change: 2022 to Mid-2023

The period from 2022 through the first half of 2023 was, to put it mildly, a crucible of change. We faced lingering supply chain disruptions, volatile market conditions, and even settled a major lawsuit that had been looming over us. Additionally, we saw changes in the Chairmanship of our board and transitioned from a small regional auditing firm to one of the top 5 auditing firms globally.

Overcoming these challenges was what I was referring to when I said that a new era had begun at Alpine 4. None of these milestones were easy to achieve, yet they were all essential. They have fortified our corporate foundation and positioned us for a future defined not just by survival but by unprecedented success.

Declining Share Price

It is no secret that market conditions, amongst other factors, have led to a decrease in our share price. Switching auditors, having to file amended and restated 10Q and 10K for 2021 and 2022, delayed filings, and other missed proclamations have contributed to a lack of investor confidence. Further, like many other micro and nano cap companies, we are dealing with algorithmic trading by bots, abusive short selling, and wholesale trading by market makers trading shares on the dark pool, all of which exasperate market conditions and lead to unhealthy trading of our stock. While this is concerning, Management has been steadfast in working towards solutions that can help make a difference. Historically, Alpine 4 has thrived by embracing change and adapting strategies to new realities, and this situation is no different.