Wall Street Darling Ginkgo Caught in SPAC, Short-Seller Selloff
- Viking, Baillie Gifford are among company’s biggest holders
- Latest drop sent stock briefly record low on short-seller call
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In the world of biotechnology and SPACs, wild fluctuations in stock prices are pretty typical. For Ginkgo Bioworks Inc. and its who’s-who list of Wall Street backers, it’s been a rough two weeks that’s seen about $5 billion in market value wiped out.
The Boston-based company counts Viking Global Investors LP, Baillie Gifford & Co. and Cathie Wood’s ARK Investment Management LLC among its 10 biggest holders on hopes it will lead a synthetic biology revolution.