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Omor Ibne Ehsan

23andMe Stock Is Surging After a Bankruptcy Judge Cleared Genetics Business Sale. Here’s Why You Need to Stay Far Away From ME Shares.

ME 23andMe Anne Wojcicki

23andMe (ME) is a genetic testing company that provides individuals with their DNA-based ancestry records. This company has the second-largest ancestry database after AncestryDNA, but has been struggling due to waning demand for one-time-use DNA kits.

Moreover, a 2023 data breach exposed 6.9 million users’ data. The data breach eroded trust and led to a $30 million lawsuit settlement. By late 2024, 23andMe laid off 40% of its workforce and shuttered its drug development arm. ME stock then plunged below the Nasdaq $1 listing requirement, and all independent board members resigned over disagreements with CEO Anne Wojcicki’s privatization push.

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