The Silicon Valley and Wall Street golden kid 23andMe was the DNA testing firm just three years ago. The company is currently in risk of being delisted from the Nasdaq.
However, CEO of 23andMe Anne Wojcicki tells CNN that Wall Street shouldn’t write her off just yet.
The erstwhile digital unicorn’s worth has plummeted by 96% from its top share price of $17.65 in February 2021, despite the company’s first surge in popularity.
Currently trading at roughly $0.70 per share, 23andMe was notified in November that it was not complying to Nasdaq regulations, which mandate that a business keep its stock price above $1. In other words, it has roughly three months to raise the price or take a chance.
“We’re very aware of this,” Wojcicki stated. “We’re making the necessary changes to make the business sustainable, and then it’s going to be about growing it again.”
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