Here's Why This Cathie Wood Stock Is Crashing Today
"A colossal scam." According to a Scorpion Capital report released today, that's a fitting characterization of Ginkgo Bioworks Holdings (NYSE: DNA), a company specializing in synthetic biology. The company, which recently went public through a merger with a special purpose acquisition company, is a holding in Cathie Wood's ARK Innovation ETF, but even Wood's seal of approval isn't enough to stave off the bears' reaction to Scorpion Capital's criticism.
As of 10:53 a.m. EDT, shares of Ginkgo Bioworks have plunged 19.6%.
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Source Fool.com
