If you bought 23andMe stock during the SPAC frenzy of 2021, the ride since then has been brutal — and it’s not over yet. The genetic-testing company went from a $6 billion market cap to filing for Chapter 11 bankruptcy in March 2025, followed by Nasdaq delisting and an OTC fire sale.

Current stock price (Robinhood): $3.50 per share ·
Market capitalization: $96.4 million ·
Peak market cap (2021): ~$6 billion ·
P/E ratio: -0.40 ·
Listing status on Robinhood: Inactive

Quick snapshot

1Confirmed facts
2What’s unclear
  • Whether common shareholders will recover any value from bankruptcy
  • Exact timeline for liquidation or restructuring of remaining operations
  • How TTAM Research Institute intends to run the business post-acquisition
3Timeline signal
4What’s next

The numbers tell a stark story. Seven key data points capture how far 23andMe has fallen.

Metric Value
Current stock price (last known) $3.50
Market capitalization $96.4 million
Peak market cap ~$6 billion (2021)
Stock symbol (historic) ME
Current symbol (OTC) MEHCQ
Delisting date 2025 (announced)
Reason for bankruptcy Data breach, revenue shortfall

The pattern: a company that hit a $6 billion peak in 2021 is now worth roughly 1.6% of that, trading on a shadow market with no Nasdaq listing and a bankruptcy judge calling the shots.

What happened to my 23andMe stock?

The SPAC merger and early rise

  • 23andMe went public in June 2021 through a merger with a SPAC called VG Acquisition Corp., valuing the company at approximately $6 billion (Wikipedia).
  • The stock initially traded under the symbol ME on Nasdaq, peaking at around $231.80 per share (adjusted for splits) later that year (Fortune timeline).

Data breach and revenue struggles

  • In 2023, a major data breach exposed genetic and personal information of millions of users, severely damaging trust in the brand (CNBC).
  • Despite pivoting to subscription-based services and drug development, the company failed to build recurring revenue streams that could offset its massive cash burn.
  • By November 2024, 23andMe disclosed in its SEC 10-Q filing an accumulated deficit of $2.3 billion and cash and cash equivalents of just $126.6 million, stating there was “substantial doubt” about its ability to continue as a going concern (SEC EDGAR filing).

Bankruptcy filing and delisting announcement

  • On March 23, 2025, 23andMe filed voluntary Chapter 11 bankruptcy petitions in the U.S. Bankruptcy Court for the Eastern District of Missouri, case number 25-40976 (CNN).
  • Reuters reported that the stock fell roughly 50% to about $0.88 per share the following day, as CEO Anne Wojcicki resigned (Reuters).
  • Nasdaq suspended trading at the opening of business on March 31, 2025, notifying the company that a Form 25 delisting would be filed (CNBC).
The pattern

23andMe spent public-market cash building a data moat, not a profitable business. The 2023 breach turned that moat into a liability, and the company never recovered the revenue momentum to survive the Nasdaq minimum-bid-price rule.

The implication: the SPAC-era hype evaporated as operational failures and a data crisis converged to destroy shareholder value.

Will 23andMe be delisted?

Delisting confirmation from CNBC

  • On May 27, 2025, 23andMe Holding Co. announced it would voluntarily file a Form 25 to delist from Nasdaq and later file a Form 15 to deregister with the SEC (CNBC).
  • CNBC’s coverage framed the delisting as part of the transition away from being a publicly traded company following the bankruptcy auction to TTAM Research Institute.

What triggers Nasdaq delisting

  • Nasdaq initially granted 23andMe until November 4, 2024, to regain compliance with the minimum $1 bid price requirement (SEC EDGAR filing).
  • A reverse stock split was completed on October 16, 2024, to temporarily boost the share price, but the underlying revenue issues persisted (Fortune).
  • Once the Chapter 11 filing hit, Nasdaq had grounds to suspend trading immediately.

Current trading symbol MEHCQ

  • The stock now trades over-the-counter under the symbol MEHCQ, a far cry from the original ME on Nasdaq.
  • Robinhood lists the stock as “inactive,” meaning existing positions are visible but no new trades can be placed.

The implication: delisting isn’t just a label change — it removes 23andMe from the institutional investor universe, reduces liquidity further, and typically accelerates price declines as index-fund holdings are liquidated.

How much is 23andMe worth now?

Latest market cap figures

  • The company’s market capitalization stands at approximately $96.4 million, a fraction of its peak valuation.
  • 23andMe reported approximately $277.42 million in assets and $214.7 million in debts in its March 2025 bankruptcy filing (HIPAA Journal).

Stock price history from peak to now

  • The stock’s all-time high (adjusted) reached roughly $231.80 in late 2021.
  • By March 24, 2025, the day after the Chapter 11 announcement, shares traded at approximately $0.88 (Reuters).
  • The current OTC price of $3.50 reflects the reverse split, not a recovery — adjusted for the split, the stock has lost over 99% of its peak value.
The trade-off

Common shareholders sit behind $214.7 million in creditor claims in the bankruptcy queue. Even if TTAM’s $305 million bid creates a surplus, equity holders are last in line and likely recover nothing.

Comparison to peak valuation

  • The 99.3% collapse from $6 billion to $96.4 million represents one of the steepest declines among SPAC mergers of the 2020-2021 cycle.
  • The company needed $35 million in financing just to get through the bankruptcy weekend (Reuters).

The catch: the 99.3% collapse underscores the risks of investing in SPAC-merger stocks, where inflated valuations can disintegrate rapidly.

Is 23andMe still trading?

Over-the-counter trading after delisting

  • Yes, the stock trades on the OTC market under the symbol MEHCQ.
  • OTC markets have lower liquidity, wider bid-ask spreads, and less regulatory oversight than major exchanges.

Robinhood status

  • Robinhood lists 23andMe as “inactive” — existing shareholders can see their holdings but cannot execute new buy or sell orders.
  • Other discount brokerages (e.g., Fidelity, Charles Schwab) may still allow OTC trades, but policies vary.

Where to find current price

  • OTC market data is available through financial platforms like Yahoo Finance, TradingView, and your brokerage’s OTC price feed.
  • Be aware that OTC prices can be stale or manipulated — the $3.50 figure may not reflect a liquid market.

Why this matters: trading in the OTC “pink sheets” means fewer reporting requirements, less analyst coverage, and a higher chance of price dislocations that can hurt retail investors trying to exit.

Can you buy 23andMe stock?

Brokerages that still offer MEHCQ

  • Some full-service brokerages (Fidelity, Schwab, TD Ameritrade) allow OTC trades for certain securities.
  • Many discount apps (Robinhood, Webull) have suspended trading or list MEHCQ as inactive.
  • Check with your broker before assuming availability — OTC trading is not guaranteed.

Risks of buying post-delisting

  • The stock represents shares in a company going through Chapter 11 bankruptcy — common equity is routinely wiped out or heavily diluted in such proceedings.
  • TTAM Research Institute, a nonprofit founded by former CEO Anne Wojcicki, won the bankruptcy auction with a $305 million bid (Wikipedia).
  • Existing shareholders may receive nothing if the bankruptcy court approves a plan that fully allocates proceeds to creditors.

Steps to purchase OTC shares

  • Log into your brokerage account and search for the symbol MEHCQ.
  • If the ticker appears, check for any trading restrictions or fees attached to OTC securities.
  • Place a limit order (never a market order on OTC stocks, as spreads can be extreme).
  • Understand that you may not be able to sell quickly if liquidity dries up.
What to watch

Anyone buying MEHCQ today is effectively buying a lottery ticket on a bankruptcy outcome. Creditors have priority claims on TTAM’s $305 million — equity holders are at the back of a very long line.

Given the bankruptcy priority structure, buying MEHCQ is a speculative move with low odds of recovery.

Timeline of 23andMe stock events

The following sequence traces the company’s descent from SPAC darling to delisted stock.

Date/Period Event
June 2021 23andMe goes public via SPAC merger at ~$6B valuation (Wikipedia)
Late 2021 Stock peaks at ~$231.80 (adjusted) (Fortune)
2023 Data breach exposes user data; reputation damaged (CNBC)
October 16, 2024 Reverse stock split to meet Nasdaq minimum bid price (Fortune)
November 4, 2024 Deadline to regain Nasdaq compliance expires (SEC EDGAR)
March 23, 2025 Chapter 11 bankruptcy filed (CNN)
March 24, 2025 Stock drops ~50% to $0.88; CEO resigns (Reuters)
March 31, 2025 Nasdaq suspends trading (Nasdaq press release)
May 27, 2025 Announcement of voluntary delisting and SEC deregistration (CNBC)
July 14, 2025 TTAM acquisition closes; creditor claims bar date (CNBC)

The catch: each of these milestones made the stock less accessible — from a blue-chip Nasdaq listing to a suspended symbol to an OTC afterthought — and each step diluted shareholder value further.

Confirmed facts vs. what remains unclear

Confirmed facts

  • 23andMe filed for Chapter 11 on March 23, 2025 (Kroll)
  • Nasdaq suspended trading on March 31, 2025 (Nasdaq)
  • Stock now trades OTC under MEHCQ (Wikipedia)
  • TTAM Research Institute bought assets for $305M (CNBC)
  • California AG alerted consumers about data rights (CNBC)
  • Robinhood lists stock as inactive

What’s unclear

  • Whether common shareholders recover any value
  • Future of 23andMe as an operating company post-TTAM
  • Exact timeline for bankruptcy case closure
  • Whether TTAM will honor existing customer privacy commitments
  • How OTC liquidity will evolve in coming months

“23andMe to delist from Nasdaq, deregister with SEC”

— CNBC reporting on the May 2025 announcement

“So I lost over $200k? 23andMe stock was my entire net worth…”

— Anonymous Reddit user, summarizing the retail investor experience

“23andMe reached a peak market capitalization of approximately US$6 billion after SPAC merger.”

— Wikipedia

“Customers’ 23andMe genetic data can be transferred to a new owner or sold, subject to privacy laws and terms.”

— ABC News

For investors holding 23andMe shares, the choice is clear: monitor the bankruptcy docket on Kroll’s portal, consult with a tax professional about claiming a capital loss for the current tax year, and accept that recovery from equity is unlikely. For customers with genetic data on file, California’s consumer alert and the ABC News guidance suggest logging in and requesting permanent deletion before any asset sale finalizes data transfer rights.

Frequently asked questions

Can I still sell my 23andMe shares?

Only if your broker supports OTC trading under the symbol MEHCQ. Robinhood lists the stock as inactive and does not allow new trades. Fidelity and Schwab may allow limit orders, but liquidity is extremely low.

What happens to my shares after delisting?

Shares still exist on your brokerage statement. They now trade over-the-counter under MEHCQ. In a Chapter 7 or Chapter 11 liquidation, common shares are typically canceled without compensation. In a reorganization, they may be exchanged for shares of the new entity — but TTAM’s acquisition suggests existing equity will be wiped out.

Is 23andMe still offering DNA testing services?

Yes, according to ABC News, the company stated it would continue operating in the ordinary course during the sale process. No changes to how it stores, manages, or protects customer data were announced at the time of the bankruptcy filing.

Are there any class-action lawsuits related to the stock?

Multiple shareholder lawsuits are typical in SPAC collapse and delisting scenarios. Check the Kroll restructuring portal for a list of filed claims. As of July 2025, the claims bar date has passed, but creditors may still pursue objections.

How can I find the current MEHCQ price?

Search for MEHCQ on Yahoo Finance, TradingView, or your brokerage’s OTC price lookup. Prices may be delayed and spreads wide. The last reported OTC price was approximately $3.50, but trading volumes are minimal.

What should I do with my 23andMe stock certificates?

Contact your brokerage to verify the shares are held in street name or through a transfer agent. Certificates for bankrupt companies often become worthless, but you may need to formally surrender them during claims proceedings.

Will I owe taxes on worthless stock?

You can claim a capital loss on shares that become worthless, typically in the tax year the stock is deemed abandoned by the bankruptcy court. Consult a CPA — the IRS has specific rules for worthless securities deductions.

For shareholders, the practical takeaway is to monitor the bankruptcy proceedings and consult a tax professional about claiming a capital loss.

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