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Its stock is trading at about $0.76 and the Nasdaq is threatening to delist them. THAT is a pretty far fall!
The core problem is that it is sort of a one-trick pony: once you get your genes tested, there's no reason to go back to the company. No repeating revenue stream. And now that revenue stream has dried up and they're facing a grim future. With their stock trading so low, it's going to be hard to raise more money.
This is a similar problem faced by the company that sells the Instapot. Once you buy one, you're not going to buy two or three (unless you have very special needs). The company soared, then tanked as the demand crashed. And there are only so many ways you can update that tech to try to hype up that demand. The inventors of the Instapot sold out to a larger kitchen goods maker, who is now struggling with the price they paid since it's no longer the sales horse that they had hoped it was.
My big question is: if 23andMe goes away, what happens to all that data that they collected?
I would have linked an article, but the only one listed in the Slashdot headline was from the Wall Street Journal which is behind a paywall.
https://slashdot.org/story/24/01/31/1532255/23andmes-fall-from-6-billion-to-nearly-0
The core problem is that it is sort of a one-trick pony: once you get your genes tested, there's no reason to go back to the company. No repeating revenue stream. And now that revenue stream has dried up and they're facing a grim future. With their stock trading so low, it's going to be hard to raise more money.
This is a similar problem faced by the company that sells the Instapot. Once you buy one, you're not going to buy two or three (unless you have very special needs). The company soared, then tanked as the demand crashed. And there are only so many ways you can update that tech to try to hype up that demand. The inventors of the Instapot sold out to a larger kitchen goods maker, who is now struggling with the price they paid since it's no longer the sales horse that they had hoped it was.
My big question is: if 23andMe goes away, what happens to all that data that they collected?
I would have linked an article, but the only one listed in the Slashdot headline was from the Wall Street Journal which is behind a paywall.
https://slashdot.org/story/24/01/31/1532255/23andmes-fall-from-6-billion-to-nearly-0
