What's Going On With Yellow Corporation Stock?
Portfolio Pulse from Erica Kollmann
Yellow Corporation (NASDAQ:YELL) shares surged 84.6% on heavy trading volume after the company ceased operations. The company is expected to file for bankruptcy in the coming days. More than 96 million shares have been traded, far exceeding the stock's 100-day average of 2.6 million shares. The stock has also attracted the attention of short sellers with 18.2% of available shares being sold short.
July 31, 2023 | 5:12 pm
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Yellow Corporation's stock surged after the company ceased operations and is expected to file for bankruptcy. The stock has attracted short sellers.
The surge in Yellow Corporation's stock price is likely due to speculative trading following the news of the company ceasing operations and the expected bankruptcy filing. The high trading volume and interest from short sellers suggest that the market is expecting the stock's price to decrease in the near future.
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