Comment on Zymergen rebounds with a 85% rally after Cathie Wood's Ark Invest tripled its stake in the synthetic biology company

Zymergen rebounds with a 85% rally after Cathie Wood's Ark Invest tripled its stake in the synthetic biology company

ARK Invest Zymergen rebounded by as much as 85% on Thursday after it fell 76% on Wednesday.The rally in Zymergen comes after Cathie Wood's Ark Invest tripled its stake in the synthetic biology company.The Ark Invest Genomic Revolution ETF now owns more than 3.5 million shares of Zymergen.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Shares of Zymergen soared as much as 85% on Thursday, helping the synthetic biology company recoup some of its massive losses from Wednesday.Zymergen plunged 76% yesterday after it said issues with its main product would prevent the company from generating material revenue this year and next.But Cathie Wood's Ark Invest saw opportunity in Zymergen's massive Wednesday decline and ultimately tripled its stake in the company.

 

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