Whetstone Capital Advisors, LLC fully liquidated its position in Freshworks, selling 492,234 shares valued at $7.3 million as of June. Freshworks’ stock price was $12.11 on Nov. 14, down 25.8% in the past year. The company reported a 15% revenue growth in the third quarter, with an operating loss of $7.5 million.

Despite an initial IPO price of $36, Freshworks’ shares now trade at less than one-third of that value. The company has been focusing on AI products, but investor doubts have impacted stock performance. Whetstone Capital Advisors quickly sold its Freshworks shares after adding them in the second quarter, signaling a lack of long-term confidence in the investment.

Read more at Nasdaq: Whetstone Sells All Freshworks Shares