What In The World Is Going On With Yellow Corp (YELL) Stock?
Portfolio Pulse from Henry Khederian
Yellow Corp (NASDAQ:YELL) shares are trading higher by 21.1% despite the company announcing it is ceasing operations and filing for bankruptcy. The company is also in talks to sell off parts of the business. Apollo is reportedly leading a bankruptcy loan deal. Yellow Corp has faced financial challenges due to a decrease in shipping demand, resulting in lower volumes and declining rates.
August 04, 2023 | 2:11 pm
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Yellow Corp's shares are trading higher despite the company's announcement of bankruptcy and cessation of operations. The company is also considering selling parts of its business.
The news of Yellow Corp's bankruptcy and cessation of operations is directly related to the company and its stock. Despite this negative news, the company's shares are trading higher, possibly due to the potential sale of parts of its business or the bankruptcy loan deal led by Apollo. However, in the short term, the company's financial instability could negatively impact its stock price.
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