A place to share business news and insights.
I fail to see how having a huge sampling of human DNA data is “worthless”. Sounds like a management problem to me.
If you still have DNA data with them, delete your account and the DNA along with it. It really is valuable and you bet your ass it's going to get sold if it's still there at bankruptcy time.
delete … the DNA along with it.
Did you just tell people to kill themselves?
OMG DYS
I think they mean in the sense that the stock could be delisted and the market cap is literally like 1/20th of what it once was
Everyone who would pay for this already has. It’s a collapsed model because there’s nowhere else to go.
The data is still valuable and can be sold to pharmaceutical and medical research among others.
I agree but also think that the major value has been extracted already. It’ll probably be useful for scientific needs and has value there.
Buy low, sell high. This is the way.
If someone wants to buy it then it's not worthless.
Especially when you can tank the stock price and buy it yourself.
Looked up the stock and it was one of those SPAC scams. SPACs have mostly been pump and dumps and I wouldn't be surprised if they went the SPAC route to scam people out of a whole bunch of money so that they could use a fraction of that money to buy back the company and take it private. It wouldn't surprise me if they got their buddies to short it to make even more money and hasten the stock reaching down to the point where they can take it private on the cheap and do whatever else they want to do to suck out more money from the operation without being beholden to the shareholders they scammed.
Ancestry was always the better choice, as they didn't set out to sell your data.
Ancestry is owned by Blackstone.
Personally, that data being in the hands of private equity doesn't really sit any better with me.