UPDATED: A short-sell attack sends Ginkgo's share price spinning, underscoring investors' concerns over synbio field
Ginkgo Bioworks, a synthetic biology unicorn that has captured investors’ imaginations and trades under Genentech’s hallowed old $DNA ticker, took a big blow Wednesday after a short seller claimed the company represents “a Frankenstein mash-up of the worst frauds of the last 20 years.”
Scorpion Capital, a hedge fund most recently known for torpedoing the stock of Berkeley Lights $BLI, another company dabbling in synbio, released a hefty investigation it says shows a pattern of fraud at Ginkgo, including posing related-party entities as customers and overhyping a platform without any meaningful IP and with a history of failure.
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