Shift Technologies shares are trading lower after the company announced it intends to file a voluntary Chapter 11 petition.
Portfolio Pulse from Benzinga Newsdesk
Shift Technologies has announced its intention to file a voluntary Chapter 11 bankruptcy petition, causing its shares to trade lower.
October 09, 2023 | 12:57 pm
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Shift Technologies' announcement of its intention to file for Chapter 11 bankruptcy has led to a decrease in its share price.
The announcement of a company filing for bankruptcy typically leads to a decrease in its share price as it indicates financial distress. This is the case for Shift Technologies, as its shares are trading lower following the announcement.
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