Boxed Up 42% to 14 Cents Following Three Days of Declines

Dow Jones2023-03-21

By Josh Beckerman

Boxed Inc. shares, which posted three consecutive double-digit declines after the e-commerce company said it was considering a bankruptcy filing, rose 42% to 14 cents on Monday.

Volume was more than 37.4 million shares, compared with a 65-day average of 3.69 million.

On Friday, Boxed said it wouldn't file its Form 10-K on time as it continued to work on negotiating a forbearance agreement, exploring strategic alternatives and restructuring financing arrangements.

Boxed expects a 2022 net loss of about $115 million.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

March 20, 2023 13:43 ET (17:43 GMT)

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Comments

Aidukas
2023-03-21
Aidukas
Some buy shares at $3 each, after which the company goes bankrupt.....what idiot can buy at such a price without knowing the purpose? There is manipulation going on.

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