Trucking firm Yellow tumbles on delisting notice from Nasdaq

Yellow

09/08/2023 15:18

** Shares of freight trucking company Yellow  YELL.O  fall
~17% to $2.3 after delisting notice from the Nasdaq exchange
citing the co's bankruptcy filing
    ** Nasdaq says trading of Yellow's common stock will be
suspended on Aug. 12 
    ** Yellow, a dominant player in the "less-than-truckload"
segment, filed for Chapter 11 bankruptcy protection on Monday,
leaving some 30,000 workers looking for new jobs
    ** YELL adds that it will not appeal the delisting 
    ** Co also reports Q2 net loss of 28 cents/shr, vs.
expectation of a loss of 45 cents per share
    ** YTD, stock rose 22.71% 

 (Reporting by Aishwarya Jain)
 ((Aishwarya.Jain@thomsonreuters.com))