Near Intelligence shares are trading lower after the company on Friday announced it filed for Chapter 11 protection and entered into an agreement to sell its business.
Portfolio Pulse from Benzinga Newsdesk
Near Intelligence has filed for Chapter 11 bankruptcy protection and has entered into an agreement to sell its business, causing its shares to trade lower.
December 11, 2023 | 5:10 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Near Intelligence, represented by the symbol NIR, has seen its shares decline following the announcement of its Chapter 11 bankruptcy filing and intent to sell the company.
The filing for Chapter 11 bankruptcy protection typically indicates financial distress, which can lead to a loss of investor confidence and a decrease in share value. The intent to sell the company adds uncertainty about the future of NIR, potentially leading to further declines in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100