Yellow dished out $4.6M in bonuses to its top execs weeks before declaring bankruptcy. Over half of the sum was for retention bonuses as the company contemplated liquidating.
Yellow Trucking company filed for chapter 11 bankruptcy in early August and now companies are beginning to bid for the company's assets, which include 160 trucking terminals.
Another meme stock has lost its spot on a major exchange. Yellow (OTCMKTS: YELLQ ) began August on a high note when short squeeze momentum pushed it up more than 500%.
Trucking company Yellow claims unsuccessful negotiations with its workers' labor union is forcing it into bankruptcy. United Parcel Service's employees are represented by the same union -- a union that has threatened work stoppages for the company in the past.
After hitting a fresh low two weeks ago at 43 cents per share, now-defunct trucking company Yellow (NASDAQ: YELL ) has been on a turbulent ride. Shares of YELL stock have recovered to more than $4 per share in recent days before giving up most of those gains today.
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