Is Ginkgo Bioworks Worth the Hype?
Synthetic-biology company Ginkgo Bioworks is getting set to go public by merging with Soaring Eagle Acquisition Corp. (NASDAQ: SRNG), a special purpose acquisition company ("SPAC"). At a market valuation of more than $17 billion, it's one of the largest SPAC deals yet. The offering comes amid what have been mixed results for SPAC stocks, with many declining severely after completing their mergers.
So is Ginkgo Bioworks worth such a large market cap? Here are three reasons it may be worth the hype, and one major red flag.
Think of all the electronic technology that exists today: All smartphone apps, computer programs, and even the display you're reading this on are constructed from many lines of code. Our ability to manipulate and program computer code has enabled technology to change and improve over the years.
Source Fool.com
