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145 days

23andMe wants to sell its most valuable asset. Will your private DNA data be safe? - MarketWatch

1. 23andMe files for Chapter 11 bankruptcy, seeking to sell genetic data. 2. Over 15 million customers concerned about their data privacy during sale. 3. No guarantees exist under bankruptcy law to protect customer data. 4. State AGs remind consumers about rights to delete genetic information. 5. Privacy ombudsman role debated during bankruptcy proceedings.

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FAQ

Why Bearish?

The bankruptcy of 23andMe indicates severe financial instability, reducing investor confidence. Similar cases historically led to significant stock price drops.

How important is it?

The article's focus on bankruptcy and privacy issues presents relevant risks to ME and investor sentiment. Data privacy concerns can affect consumer trust and brand value significantly.

Why Short Term?

The immediate concerns over data privacy and bankruptcy will likely affect ME's valuation rapidly. Historical examples show that bankruptcy news typically results in immediate stock volatility.

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