Alfi stock loses more than half its value after bankruptcy filing

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Shares of Alfi Inc. ALF, -69.90% plummeted 54.7% toward a record low in afternoon trading Friday, after the advertising software company disclosed that it filed for bankruptcy, about 17 months after going public. The company said considered all strategic alternatives before filing for bankruptcy. Under terms of the filing, all assets and liabilities will be controlled by the bankruptcy court. “The assets of the company will be liquidated and claims paid in accordance with the bankruptcy code,” the company said in a filing. The stock, which went public on May 4, 2021, has plunged 83.4% year to date, while the S&P 500 SPX, -2.37% has shed 24.6%.

This article was originally published by Marketwatch.com. Read the original article here.

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