Pear Therapeutics (NASDAQ:PEAR) stock is falling on Friday after the company’s recent bankruptcy filing continues to weigh on its shares.
Pear Therapeutics announced its bankruptcy filing while markets were closed for Good Friday. As a result, the company’s stock underwent a major fall on Monday. Since then, its shares have been somewhat volatile with rises and falls throughout the week.
That continues on Friday with heavy trading sending shares of PEAR stock lower as investors sell their stakes. As of this writing, more than 14 million shares of the company’s stock have changed hands. That’s already well above the company’s daily average trading volume of 6.1 million shares.
What to Know About the Bankruptcy
Pear Therapeutics notes that its debtors are currently considering a sale of the business. That includes the possibility of selling the entire business to a buyer. If not, then the debtors will seek to sell assets from the business instead. That could result in multiple buyers acquiring parts of Pear Therapeutics.
Considering debtors’ plans for Pear Therapeutics, it makes sense that PEAR stock would be down. There doesn’t seem to be a future for shares of the company’s stock. At this rate, it’s likely PEAR will end up delisted.
PEAR stock is down 26.2% during pre-market trading on Friday!
Investors searching for more of the latest stock market news are in luck!
We’ve got all of the biggest stock stories worth reading about on Friday! A few examples include why shares of Petros Pharma (NASDAQ:PTPI) and CXApp (NASDAQ:CXAI) stock are up and more. You can find all of that news at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.