Ginkgo Bioworks Holdings, Inc.

DNA

Earlier today, short seller Scorpion Capital released a report alleging that Ginkgo Bioworks Holdings is a “colossal scam.” The 175-page report alleges that Ginkgo Bioworks’ business model is a “shell game,” and that the company is highly dependent on related party transaction revenues. The report charges that the company is a “Frankenstein mash-up of the worst frauds of the last 20 years.”

Ginkgo Bioworks Holdings went public via a deSPAC transaction with blank check company Soaring Eagle Acquisition Corporation in September 2021.

Shares in Ginkgo Bioworks have fallen 20% after publication of the report.

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