ME

23andMe Holding Co - Ordinary Shares - Class A

TMT, SPAC


Presented:01/22/2021
Price:13.96
Cap:$0.90B
Current Price:$0.27
Cap:N/A

Presented

Date01/22/2021
Price13.96
Market Cap$0.90B
Ent Value$0.90B
P/E RatioN/A
Book ValueN/A
Div Yield0%
Shares O/SN/A
Ave Daily Vol2,716,317
Short IntN/A

Current

Price$0.27
Market CapN/A
23andMe Holding Co. operates as a consumer genetics and research company. It operates through two segments, Consumer & Research Services and Therapeutics. The Consumer & Research Services segment provides a suite of genetic reports, including information on customers' genetic ancestral origins, personal genetic health risks, and chances of passing on certain rare carrier conditions to their children, as well as reports on how genetics can impact responses to medications based on genetic testing of a saliva sample through its spit kit. It has a collaboration agreement with GlaxoSmithKline Intellectual Property (No.3) Limited to leverage genetic insights to validate, develop, and commercialize promising drugs. The Therapeutics segment focuses on the drug development; and discovery and development of novel therapies to improve patient lives across various therapeutic areas, including oncology, respiratory, and cardiovascular diseases, as well as offers out-licensing of intellectual property associated with identified drug targets related to drug candidates under clinical development. The company was founded in 2006 and is headquartered in Sunnyvale, California.

Please note, on 06/17/21 Virgin Group's VG Acquisition Corp. (VGAC) merged with 23andMe, Inc. (ME) and assumed its company name. The content of this idea will make reference to the original SPAC.

Publicly traded companies mentioned herein: Opendoor Technologies Inc (OPEN), VG Acquisition Corp (VGAC) 

Highlights

The presenter is long shares of VG Acquisition Corp, a pre-deal SPAC led by Joshua Bayliss (CEO) and Evan Lovell (CFO), executive officers of the Virgin Group. He notes that the largest price spikes in SPACs typically result from deal announcements, and he evaluates these trades based on his perception of the sponsor and their ability to find deals that will drive investor enthusiasm. While acknowledging the speculative nature of this trade, he owns the SPAC due to his expectation that they may acquire Virgin Orbit, a SpaceX competitor.

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Idea Discussion

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