A Wednesday note to investors from Stephens, a financial services company, estimates that Yellow may soon breach a key requirement on its cash reserves.
Based on a July 10 liquidity disclosure, Stephens estimated that Yellow was burning $4 million in cash each week in the second quarter of 2023. In that same filing, Yellow disclosed that it had roughly $100 million in cash as of the end of June.
Jack Atkins and Grant Smith, respectively a research analyst and associate both at Stephens covering...
https://www.freightwaves.com/news/stephens-says-yellow-is-burning-up-to-10m-a-day