Like BuzzFeed and Virgin Galactic, the DNA-testing powerhouse is another company with a buzzy SPAC debut whose stock fell to under $1 in recent weeks.
Like a number of companies that went public during the pandemic, 23andMe has for months been trying to manage a terrible case of SPAC-itis, an inflammation that causes plunging stock values due to the business being, as one analyst put it, not “ready for prime time.”
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