Why ViewRay (VRAY) Stock Hit A New 52-Week Low Today
Portfolio Pulse from Henry Khederian
ViewRay Inc (NASDAQ:VRAY) shares dropped by 44% to $0.20 after the company filed voluntary Chapter 11 petitions. The company plans to sell its business and assets, and has secured $6 million in debtor-in-possession financing. It will continue operations using existing cash reserves. The company announced board resignations and new appointments, including a new CEO, Paul Ziegler.
July 17, 2023 | 1:16 pm
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ViewRay's stock price dropped significantly after the company filed for Chapter 11 and announced plans to sell its business and assets. The company has secured financing and will continue operations, but the bankruptcy filing and leadership changes may cause uncertainty among investors.
The company's decision to file for bankruptcy and sell its assets has led to a significant drop in its stock price. The leadership changes and the uncertainty surrounding the company's future may continue to negatively impact the stock price in the short term.
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