|Company Name||Boxed, Inc.|
On March 14, 2023, The Wall Street Journal reported that Boxed may file for bankruptcy as it continues to explore a possible sale of its business, noting that Boxed went public less than two years ago, and that it is trying to establish a new commercial banking relationship after transferring the majority of its cash out of its accounts at Silicon Valley Bank.
On this news, Boxed’s stock price fell $0.21, or 48.25%, to close at $0.2199 per share on March 15, 2023, thereby injuring investors.
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