ST Alpha - "yikes - didn't know how bad it was for 23&Me - trying to go private, 35 cent share price. " (Reading a Post)

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yikes - didn't know how bad it was for 23&Me - trying to go private, 35 cent share price.

Posted by colin (aka colinski) Sep 19 '24, 11:55

"It is the latest challenge for 23andMe, which has struggled to find a profitable business model. The stock price rose a penny on Tuesday to $0.35 per share. At that price, 23andMe’s valuation is just $7 million more than the cash on its balance sheet. That represents a 99.9% decline from its $6 billion peak valuation just after going public in 2021." per Matt Levine on Money Stuff.

Responses:

was it all the distant family members getting ID'd in decades old homicide cases that put people off sharing their DNA with the company? -- nm - mr mooch Sep 19, 12:11 6
- I'm pretty sure most of that, especially since the GSK case, has been through GEDmatch. - the wrong element Sep 19, 12:24 4
  - Is it saturation? do all the people who were curious - already took the test? -- nm - Pippy aka Bad Monkey Sep 19, 12:34 3
    - They don't have a recurring revenue model -- nm - rollo Sep 19, 12:36 2
      - Maybe I should check to see if my DNA changed since last time. -- nm - Dano Sep 19, 12:43
      - that would do it -- nm - Pippy aka Bad Monkey Sep 19, 12:39
- Well, it probably wasn't all the people who had read a single scifi story ever -- nm - Beryllium Sep 19, 12:13
The board had rejected a buyout offer from their CEO at 40 cents and earlier this week resigned en masse. -- nm* - znufrii Sep 19, 12:08

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yikes - didn't know how bad it was for 23&Me - trying to go private, 35 cent share price.

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