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Yellow shares soar following MFN Partners' 42.5% stake accumulation despite looming bankruptcy concerns.
Shares of the struggling trucking company Yellow Corporation (NASDAQ:YELL) have surged 500% in five days, following the accumulation of a 42.5% stake by hedge fund MFN Partners. Despite this surge, the author advises caution, noting the company's potential bankruptcy and Apollo Global Management's plans for super-senior debtor-in-possession financing, which would rank ahead of shareholders.
Source: SeekingAlpha
$YELL Yellow shares are up 500% in the last 5 days. Call everyone back to work, lol. pic.twitter.com/9ysV9mtBdO
— Man, I Love Freight 🚛 (@freightcaviar) August 3, 2023
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