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New York Post
141 days

FTC concerned about privacy protections in 23andMe bankruptcy

1. 23andMe filed for bankruptcy amid low demand for ancestry kits. 2. FTC warns about potential sale of personal data during bankruptcy. 3. California AG calls for customers to delete genetic data. 4. Data breach in 2023 exposed 7 million customers' information. 5. Privacy concerns could further impact customer trust and sales.

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FAQ

Why Very Bearish?

The bankruptcy indicates severe operational issues, reminiscent of past failures like Theranos, which harmed investor confidence.

How important is it?

The bankruptcy and data privacy concerns heavily impair 23andMe's business model and customer trust.

Why Short Term?

Immediate market reactions to bankruptcy and privacy concerns likely to affect stock prices quickly.

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