Cue Health shares are trading lower after the company announced that it filed voluntary petitions under Chapter 7 of the U.S. Bankruptcy Code in the District of Delaware to pursue a wind down of its business.
Portfolio Pulse from Benzinga Newsdesk
Cue Health shares are trading lower after the company announced that it filed voluntary petitions under Chapter 7 of the U.S. Bankruptcy Code in the District of Delaware to pursue a wind down of its business.
May 29, 2024 | 12:36 pm
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Cue Health has filed for Chapter 7 bankruptcy, indicating it will wind down its business. This has led to a significant drop in its share price.
The filing for Chapter 7 bankruptcy means that Cue Health will liquidate its assets and cease operations. This is a critical event for the company, leading to a significant negative impact on its stock price.
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