Why Shares of Ginkgo Bioworks Bounded Higher This Week
Poised to end the week lower than where they finished last Friday, shares of synthetic biology, or "synbio," specialist Ginkgo Bioworks (NYSE: DNA) are heading swiftly in the other direction. Instead of feeling inspired by some auspicious company news, investors are clicking the buy button after learning of Cathie Wood's bullish stance on the stock.
As of the end of the trading session today, shares of Ginkgo Bioworks rose 11.4% since the market's close last Friday, according to data from S&P Global Market Intelligence.
Often, average investors pay close attention to the stock purchases of famous investors like Cathie Wood -- and this week was the same. On Monday two ARK funds acquired shares of Ginkgo Bioworks; the ARK Genomic Revolution ETF bought 404,329 shares and the ARK Innovation ETF bought 1,026,000 shares.
Source Fool.com
