23andMe considers splitting up company to revive stock price
Publishing timestamp: 2024-02-08 12:46:05
Summary
The article discusses how shares of 23andMe sank after the company reported poor third-quarter fiscal 2024 results and discussed the possibility of splitting itself in two to boost its stock price. The company reported a decline in revenue and a higher net loss compared to the previous year. 23andMe is also facing the risk of being delisted from the Nasdaq exchange if it fails to bring its share price back above $1. The company is considering separating its consumer and therapeutics businesses to attract more investors. Additionally, 23andMe is dealing with legal troubles following a data breach and has incurred expenses related to it. Analysts have lowered their target price for the stock.
Sentiment: NEGATIVE
Tickers: ME,
Keywords: enterprise, business news, 23andme holding co., breaking news: technology, technology,
Source: https://www.cnbc.com/2024/02/08/23andme-considers-splitting-up-company-to-revive-stock-price-.html