Why Are HTG Molecular Diagnostics Shares Plunging Today
Portfolio Pulse from Vandana Singh
HTG Molecular Diagnostics (NASDAQ:HTGM) filed for Chapter 11 bankruptcy, causing its stock to plunge. The company will operate as a debtor-in-possession business during the bankruptcy and is seeking first-day motions to continue normal operations. HTG Molecular reported Q1 sales of $1 million, with a net loss of $5 million.
June 06, 2023 | 5:47 pm
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HTG Molecular Diagnostics filed for Chapter 11 bankruptcy, leading to a significant drop in its stock price.
The company's bankruptcy filing has a direct impact on its stock price, as it indicates financial distress and uncertainty for the future of the company. This news is highly relevant and important for investors, as it affects the value of their investments in HTGM.
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