The DNA-testing company 23andMe was a huge success three years ago, and its stock price was greater than Apple’s.
However, it now faces a battle for survival after the heyday when millions of individuals rushed to send it saliva samples in exchange for in-depth studies about their genetic makeup, familial ties, and lineage.
It barely missed being delisted from the stock market this week, and its share price has fallen.
Naturally, this business also has the most private information about its clients, which raises concerns about what might happen to its enormous and incredibly valuable database of unique human DNA. Snoop Dogg, Oprah Winfrey, Eva Longoria, and Warren Buffet were among its well-known clients; millions of users were experiencing surprising and transformative outcomes.
Some people learnt that they had a genetic predisposition to major health disorders or that their parents were not who they believed them to be. The price of its shares skyrocketed to $321.After three years, the price has fallen to little under $5, and the company’s value has decreased to 2% of its previous level.
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