Representing the other side of Wall Street for 20 Years.
Ginkgo Bioworks (DNA) – It’s Not a Scam… It’s a Scheme
We’re sure by now you’ve read Scorpion Capital’s report and understand that Ginkgo Bioworks (DNA) is filled with red flags including:
An overly promotional hype master CEO
Minimal real synthetic biology revenue
No proprietary technology
No tangible products in the market
Let’s be clear – Ginkgo Bioworks is by no means a scam, rather it is a scheme and a very legal one. The same type of scheme that has made a new generation of investors weary of Wall Street.
DNA today is valued at $24 billion. Just last year, DNA raised capital at a post-money valuation of approximately $5 billion yet the company is not a materially better company whatsoever.
DNA only has $40 million of annualized “actual” synthetic biology revenue when you strip out their revenue from COVID testing and revenue from JVs set up by DNA where they invested. Yet, at first glance retail investors might get excited about the shareholder base… but it is important to look at their cost basis.
Viking first started buying DNA stock in the private markets during the company’s Series B at a $200 million valuation
Bill Gates’ Cascade Investment started buying during the company’s Series C at a $450 million valuation