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June 17, 2021, 10:30 a.m. EDT

23andMe shares slightly higher in trading debut after merger with Richard Branson SPAC

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By Ciara Linnane

ME

Shares of 23andMe /zigman2/quotes/222659849/composite ME -5.56% , the consumer genetics company that offers a home DNA test kit, were slightly higher in their trading debut on Nasdaq Thursday, under the ticker "ME." The company came to public markets after merging with Richard Branson's special-purpose acquisition corporation, or SPAC, VG Acquisition Corp. . SPACs, or blank-check companies, raise money in an initial public offering and then have two years to acquire a business or businesses. The vehicle became extremely popular in 2020 during the pandemic and set records, although interest has dimmed in 2021. 23andMe was founded in 2006 by Anne Wojcicki, Linda Avey and Paul Cusenza and offers individuals the chance to have their genes tested, providing them with information on health risks and ancestry. Consumers can order one of the company's test kits, comprising a test tube for saliva collection that is then mailed to a laboratory for testing. The stock was last up 0.2% at $11.

/zigman2/quotes/222659849/composite
US : U.S.: Nasdaq
$ 7.99
-0.47 -5.56%
Volume: 1.08M
July 29, 2021 1:52p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.44 billion
Rev. per Employee
N/A
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