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23andMe bankruptcy: With America's DNA put on sale, market panic gets a new form of testing

1. 23andMe filed for bankruptcy, raising privacy and data security concerns. 2. Website traffic surged 526% after bankruptcy filing, especially for data deletion. 3. Experts warn of increased risks to consumer data if sold improperly. 4. National security implications exist if consumer data falls into wrong hands. 5. Calls to strengthen data protection laws have intensified following the bankruptcy.

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FAQ

Why Very Bearish?

The bankruptcy indicates severe financial distress and potential data breaches, dramatically impacting consumer trust.

How important is it?

The direct implication of bankruptcy on consumer trust and potential data mishandling raises significant concerns for the market.

Why Short Term?

Immediate concern over data security post-bankruptcy will likely affect consumer sentiment swiftly.

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