Plus: Netflix reports good quarter/bad outlook; Home sales drop on high mortgage rates; 23andMe's CEO is trying to take the company private (now that it's basically free); and much more
In almost any acquisition/take private there will be a decent premium to induce ppl to sell but given that shares popped 40% I’m not sure how much Anne would wanna pay extra above the current price.
Company is a melting ice cube tho. I forget the numbers but I think they are gunna run out of money in the next 12mo which means if they wanna do something strategic they gotta start moving now so it’s not a full fire sale. That could work for Anne (ppl wanna get some cash to leave this behind them) but conversely this company is her baby so she’d prob be willing to take a bit of a hit just to ensure it keeps on as a going concern.
No clue where she’s gunna find the capital. No way she could put any debt on the company. Wouldn’t be surprised if she announced selling the research business off before any deal gets closed and just leave the skeleton retail testing business which (I think) is pretty much profitable.
Fun to laugh at the stupidity of burning through billions but it is sad as it’s a cool company. I did a test 10yrs ago, but they really haven’t done anything since beyond try to run a (shtty) biotech off the data which has gone nowhere and (probably) isn’t worth much.
Any reason to think 23andMe would pay a premium to buy up all the shares?
In almost any acquisition/take private there will be a decent premium to induce ppl to sell but given that shares popped 40% I’m not sure how much Anne would wanna pay extra above the current price.
Company is a melting ice cube tho. I forget the numbers but I think they are gunna run out of money in the next 12mo which means if they wanna do something strategic they gotta start moving now so it’s not a full fire sale. That could work for Anne (ppl wanna get some cash to leave this behind them) but conversely this company is her baby so she’d prob be willing to take a bit of a hit just to ensure it keeps on as a going concern.
No clue where she’s gunna find the capital. No way she could put any debt on the company. Wouldn’t be surprised if she announced selling the research business off before any deal gets closed and just leave the skeleton retail testing business which (I think) is pretty much profitable.
Fun to laugh at the stupidity of burning through billions but it is sad as it’s a cool company. I did a test 10yrs ago, but they really haven’t done anything since beyond try to run a (shtty) biotech off the data which has gone nowhere and (probably) isn’t worth much.