Why Is Cue Health (HLTH) Stock Down 40% Today?

Cue Health (NASDAQ:HLTH) stock is down on Wednesday after the healthcare technology company announced plans to wind down its business. According to a press release from Cue Health, the company has filed voluntary petitions under Chapter 7 of the U.S. Bankruptcy Code to pursue this wind-down. The company notes this comes after unsuccessful attempts to secure additional financing or a strategic transaction. To go along with this, the company has terminated all of its employees. This also includes all the exec ...