This is the nature of public markets. Not everything should be public. In fact, MOST things should not be public. Because being public forces accountability and liability to shareholders in a way that is completely unlike being private.

A company can be successful by most metrics, but if certain trends are not heading in the right direction, then faith in the stock drops, employee compensation goes down, future investments become dicey, etc.

This is the nature of public companies. This is why they don't want to be public anymore.