US trucking firm Yellow's shares slump after filing for bankruptcy

Yellow

07/08/2023 13:25

(Updates)
    ** U.S. trucking company Yellow Corp's  YELL.O  shares drop
45% to $1.97 premarket after filing for Chapter 11 bankruptcy
protection
    ** The bankruptcy filing estimates assets and liabilities of
$1 bln to $10 bln, with more than 100,000 creditors
    ** The nearly 100-year-old company became a favorite among
retail traders and rose as much as $5/share last Tuesday after
Teamster said the company would be shutting down
    ** The stock has jumped over 5x from near record low levels
in the past five sessions; YTD, shares are up 42%

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))