Why Berkeley Lights Stock Is Plummeting Today
Cell biology specialist Berkeley Lights (NASDAQ: BLI) was getting slammed by investors on Wednesday, following a scathing tweet from an institutional short-seller. In late afternoon trading, the company's shares were down by over 22%.
A firm called Scorpion Capital, which describes itself as focused on "activist short selling" of businesses it considers dubious, thrashed Berkeley Lights in a tweet thread published Wednesday morning.
In the thread, Scorpion Capital forcefully accused the company of "Fleecing Customers And IPO Bagholders With A $2 [million] Black Box That's A Clunker."
Source Fool.com