markets

Nia Warfield3/24/25

23andMe shares tank as the DNA testing company files for bankruptcy

23andMe, once the pioneer of consumer genetic testing, saw its stock crumble more than 46% Monday morning after filing for Chapter 11 bankruptcy. The company, which saw a peak valuation of $6 billion just a few years ago, now faces a financial crisis as it grapples with dwindling demand and major operational setbacks.

Founded in 2006, 23andMe’s rise to prominence was fueled by its DNA testing kits, offering individuals a chance to find out their genetic makeup. But despite its initial popularity, the company never turned a profit, and its market value plummeted to under $50 million by 2024.

Its troubles were compounded by a data breach in 2023 that exposed nearly 7 million users’ personal information. Last year, the company rejected a take-private from cofounder and CEO Anne Wojcicki, who said she would step down from her role as the company focuses on restructuring. In November, the company announced it would cut 40% of its workforce and halted its therapeutic development plans.

More Markets

See all Markets

Parachute Escape from AI stocks

Analyst: How to know when to sell AI stocks

It's not about falling capex.

Matt Phillips5m

markets

Max Knoblauch2h

Warner Bros. shares jump as Paramount Skydance reportedly preps a $71 billion bid with Arab sovereign wealth funds

Shares of HBO and CNN parent Warner Bros. Discovery are climbing on Tuesday on a report that rival Paramount Skydance is prepping a $71 billion bid for the entertainment giant.

According to Variety, Paramount would front $50 billion for the deal, with $7 billion each coming from three Arab nations’ wealth funds (Saudi Arabia, Qatar, and the UAE).

Variety reports that each fund would receive a minority stake in Warner Bros. as well as “an IP, a movie premiere, a movie shoot.” Warner Bros. Discovery shares jumped 6% following Variety’s report, before paring its gains after Paramount called the news “categorically inaccurate.”

WBD is said to have already rejected three previous offers from Paramount. The company previously set a deadline of November 20 (this Thursday) to hear bids from interested parties — a group that reportedly also includes Comcast and Netflix.

The Saudi Arabian wealth fund, PIF, made headlines in September when it struck a $55 billion take-private deal for the gaming giant Electronic Arts — the largest leveraged buyout in corporate history.

David Ellison’s Paramount Skydance Said to Prep $71 Billion Warner Bros. Discovery Bid With Three Arab Sovereign Wealth Funds

David Ellison’s Paramount Skydance Said to Prep $71 Billion Warner Bros. Discovery Bid With Three Arab Sovereign Wealth Funds

Variety reports that each fund would receive a minority stake in Warner Bros. as well as “an IP, a movie premiere, a movie shoot.” Warner Bros. Discovery shares jumped 6% following Variety’s report, before paring its gains after Paramount called the news “categorically inaccurate.”

WBD is said to have already rejected three previous offers from Paramount. The company previously set a deadline of November 20 (this Thursday) to hear bids from interested parties — a group that reportedly also includes Comcast and Netflix.

The Saudi Arabian wealth fund, PIF, made headlines in September when it struck a $55 billion take-private deal for the gaming giant Electronic Arts — the largest leveraged buyout in corporate history.

Nvidia has a lot of questions to answer, and none of them are about demand for its AI chips

Everyone wants Nvidia chips. Now the chip designer just has to reassure investors it’ll still make piles of money meeting that demand even as supply chain and competitive pressures intensify.

Jensen Cheers Nvidia

markets

Matt Phillips5h

Analyst: Sandisk a candidate for S&P 500 after surge

Despite having a rough day today as investors flee risky stocks, Sandisk has had a ridiculous run since it was spun off from its former parent, Western Digital, in February at a valuation of roughly $5 billion.

It’s now worth more than $30 billion, thanks to a more than 400% surge over the past three months alone.

The company makes a kind of chip known as NAND flash memory, which retains data when electrical power is turned off. That attribute made them a mainstay in battery-powered consumer products like phones and cameras.

But surging demand for data storage products related to the AI investment boom — which has supercharged shares of hard disk makers like Western Digital and Seagate Technology Holdings — has also pushed up prices for NAND flash chips, setting off the explosion in Sandisk shares.

In fact, TheStreet.com reports that analyst Melissa Roberts of brokerage firm Stephens is arguing in a note Tuesday that the price surge “makes Sandisk a natural candidate for promotion to the S&P 500 in the next round of index changes.” Inclusion in the index usually bumps a stock because index funds have to buy it.

J. Edward Moreno

LifeMD reports earnings miss, weak guidance amid “fierce competition” in GLP-1 market

The company has partnerships with Novo Nordisk and Eli Lilly, the drugmakers behind the blockbuster GLP-1 drugs.

Blue Ozempic pens with yellow measuring tape on pink background.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.

©2025 Sherwood Media, LLC