Shares of Molecular Templates Inc. (MTEM) plummeted by 77% on Monday after the company announced plans to liquidate and wind down its operations. This decision comes after a year-long search for viable strategic alternatives yielded no positive results. While the company will explore remaining options and continue discussions with the FDA for its drug MT-0169, shareholders are unlikely to receive any value for their shares.
Leading cryptocurrencies like Bitcoin and Ethereum experienced a dip on Sunday, driven by concerns over persistent inflation and the looming possibility of the U.S. government liquidating its Bitcoin holdings. The market witnessed a drop in overall value, with Bitcoin falling below $63,000 and Ethereum struggling to break through $2,500. Concerns about the government’s potential liquidation stemmed from the Supreme Court’s decision to decline a case challenging its ownership of Bitcoin seized from the Silk Road marketplace, paving the way for the sale of up to 69,370 BTC.
The US Department of Justice has filed objections to Fisker’s bankruptcy liquidation plan, arguing that the EV maker cannot charge customers for repairs of safety-related issues identified with their vehicles. This objection follows similar concerns raised by the SEC regarding the lack of clarity about the transfer of Fisker’s records.
Guardion Health Sciences Inc. (GHSI) is dissolving and delisting from the Nasdaq after announcing a plan of dissolution and liquidation. The company will sell its Viactiv® brand and distribute a liquidating dividend of approximately $3.25 per share, although the exact amount and timing are subject to change.
USCF, a leader in exchange-traded product (ETP) innovation, has announced the upcoming liquidation and dissolution of its USCF Aluminum Strategy Fund (ALUM). The decision, made by the USCF ETF Trust Board of Trustees, will see the fund cease operations and distribute proceeds to shareholders on or about October 18, 2024.
Bitcoin and Ethereum experienced significant losses as cryptocurrency markets traded lower. ETF outflows, high liquidations, and a decline in large transactions contributed to the downturn. Despite this, some analysts remain optimistic about Bitcoin’s long-term prospects, highlighting similarities to its price structure in 2019.
The cryptocurrency market experienced a downturn, with Bitcoin and other major cryptocurrencies recording losses. Spot Bitcoin ETFs saw their sixth consecutive day of net outflows, totaling $37.2 million. This downward trend was accompanied by a decline in large transaction volume and a surge in liquidations, indicating a bearish sentiment among traders. Despite the recent slump, some analysts remain optimistic about Bitcoin’s long-term prospects.
The cryptocurrency market experienced a sharp decline on Tuesday evening, leading to significant liquidations. Bitcoin dropped below $59,000, its lowest level since August 19th, while Ethereum plummeted to a three-week low. The decline was attributed to extreme funding rates on derivatives exchanges, which led to over-leveraged long bets. Analysts predict that the market will need to cool down before a potential rebound.
Upscale appliance brand Pirch has filed for Chapter 7 bankruptcy, marking the end of its business operations. The company’s six furniture showrooms in California, which initially closed temporarily in March due to the COVID-19 pandemic, will now remain shut permanently. Pirch’s assets, estimated to be between $10 million and $50 million, will be liquidated to repay creditors, while its debts total between $100 million and $500 million.
Collier Homes, a prominent Western Australian residential builder established in 1959, has announced its liquidation following over six decades of operations. The decision comes amidst challenging market conditions, including supply chain disruptions, construction delays, and rising labor costs.
