Monsanto on Monday filed for Chapter 11 bankruptcy protection, the latest in a string of failed acquisitions that have led to the company’s biggest stock price loss since the end of the Great Recession.
The stock has jumped more than 7% since its September 24 filing, but that surge was largely fueled by its stock price appreciation during the bankruptcy process.
The company is still expected to make money from the restructuring, and analysts expect the stock price to rise.
However, the company has struggled in recent months, and it has missed analysts’ expectations on a number of fronts, including its ability to generate a profit for the foreseeable future.
The stock has lost nearly 60% of its value since its July 30 filing, according to data from Morningstar.
Monsanto is not the only company that has struggled this year.
Alphabet, Apple and Amazon have also been hurt by their own failures.
These companies have all experienced steep declines in their market capitalizations, with Alphabet down over 50% in 2017, according the S&P 500.
Meanwhile, Monsanto is still in a position to make more money in the long run.
The farm company is expected to generate about $1.4 trillion in revenue by 2023, according Fortune.
This includes the potential of adding new technologies and product lines.
Monsonon’s bankruptcy filing comes as other companies have also filed for bankruptcy protection.
The chemical giant ChemChina filed for protection in the U.S. and is also currently suing Monsanto over patent infringement claims.
ChemChina is also facing a lawsuit from Monsanto over its decision to make an insecticide called Bt cotton, which the company believes will help combat pests.
MolsonCoors filed for insolvency protection in July and it is now suing Monsanto and others over alleged antitrust violations.
In January, a judge in Michigan ordered Monsanto to stop making the insecticide and banned Monsanto from using it on its Roundup herbicide.
Monsanto also sued the Michigan Department of Agriculture over the decision to ban its herbicide in the state.
