If You Invested $1,000 in Ginkgo Bioworks in 2021, This Is How Much You Would Have Today
Ginkgo Bioworks (NYSE: DNA) went public a few years ago. With sky-high expectations for growth spanning multiple industries, it may have been tempting for investors to take a chance on the up-and-coming cell programming business. Investing $1,000 may have been enough to benefit from the possible upside while avoiding too much risk. Here's a look at how much that investment would be worth today and whether Ginkgo's stock is still worth hanging on to.
Special purpose acquisition companies (SPACs) were popular in 2021 while investors were buying up meme stocks and other risky investments. Many SPACs haven't lived up to their initial hype; unfortunately, Ginkgo hasn't been an exception.
When its shares first began trading on the NYSE on Sept. 17, 2021, it opened at a price of $11.15. Back then, buying $1,000 worth of shares in the company would have allowed you to buy approximately 90 shares of the cell programming business. It's not a huge buy-in, but given the upside, it may have been a justifiable amount given the high-risk, high-reward nature of the stock.
Source Fool.com
