This article only represents the author's own views.
What a difference a year makes.
It was just over a year ago that Missfresh Ltd. (MF.US) was a rising startup with a multibillion-dollar market value. Now, the pioneer of quick online grocery delivery services in China is facing an existential crisis that has reportedly seen it lay off most of its staff, as its stock slides deep into the penny realm and fast approaches worthlessness. Now the company has just taken the latest step to try and right its fast-sinking ship by announcing a major board and executive reshuffle.
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