JK - we ded.
71% of yesterday's volume was shorted and it's nothing new, see here
Somebody wants to drive this stock down and/or for people to sell.
If you believe in the company's longterm vision hold and dare I say accumulate!
It's interesting to think about the database value. I remember reading something where the cost to market and run someone's dna cost the company around $1000 per customer...and that the company value would grow as the customer database got bigger and bigger - so charging $129 (or whatever it used to be) for a customer to send in their sample was always going to lose money, even if the price to process the sample would naturally come down. A quick search now shows that 23andme has over 15 million customers worldwide. This is an astonishing number!
Now, as I was reading the seven points made by phoenixglee in the helpless post, it totally makes sense in regard to the full onslaught of negativity in every news article and post that can be found. This is all a strategy. Whether these are short sellers, naked shorts, or someone within the company, there is definitely a narrative that is being shared with every news source in print and online that is designed to create chaos and hopelessness - all with the goal of getting shareholders to sell their shares. It's an old playbook, and yet one that works time and time again as anyone looking for information online is probably worried about something (myself absolutely included). The Yahoo finance comments along with stocktwits used to be nonstop with negative posts in general, yet I stopped reading those a few years ago when I joined this community - I just liked to find out any new information and then read and share a few ideas and this place worked great for that. Anyway, from a company that keeps all their information close to the vest, suddenly there are news articles describing risks and issues that were all known since 2006 when the company was founded. The only true negative story was the data scraping that occurred, which wasn't a hack of the database and only took advantage of the data that was openly available as a regular customer. The ones to gain in keeping the story alive were the lawyers and short sellers.
As I was saying, the value of the database is incredible - and if you want to look at all the negative press as a positive, it will be impossible for another company to open up and offer direct to consumer "DNA analysis" and become as successful as 23andme. It will never happen - the choice in the media now is to opt out of 23andme if you are one of the 15 million customers, or to never send in a sample in the first place...this is not about choosing another company to work with. So in conclusion, lol, the value of 23andme should be at an all time high, and anything that is said differently is just fulfilling an agenda to bring the share price down. If it wasn't bad enough that huge brokers manipulated the stock down for the last few years, this has now become an all out attack to drive emotions down and get shareholders to sell their shares at the lowest price possible. Again, the customer DNA database that 23andme has can never be duplicated, and with all these new AI tools available to work with the database in helping to find cures for cancer and other horrible diseases, the data (and 23andme) has never been worth more.
**I will add a comment below with the information that I found years ago about naked shorts. I have no clue if this particular website is being updated, but the information was valid years ago, and it sounds like the same tactics are being used today.
