Yellow Corporation, Late Sunday, Announced It Files Voluntary Chapter 11 Petitions Affection 30,000 Jobs
Portfolio Pulse from Charles Gross
Yellow Corporation (NASDAQ:YELL) and its subsidiaries have filed for Chapter 11 bankruptcy, affecting 30,000 jobs. The company plans to wind down operations.
August 07, 2023 | 8:45 am
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Yellow Corporation has filed for Chapter 11 bankruptcy, which will likely negatively impact its stock price in the short term.
Bankruptcy filings typically lead to a decrease in stock price as it indicates financial distress. With the company planning to wind down operations, it's likely that the stock price will be negatively impacted in the short term.
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