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.

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Credit markets have a “debt” problem, not a “risk” problem

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Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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