Yellow shares slip after co files for bankruptcy

Yellow

07/08/2023 09:37

** Shares of Yellow Corp  YELL.O  tumble 25% premarket to
$2.64 after the U.S. trucking co filed for Chapter 11 bankruptcy
protection
    ** The bankruptcy filing estimated 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 after news the company would be shutting down
    ** The stock has jumped over 5x from near record low levels
in the past five session; YTD, shares are up 42%

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