Ginkgo Bioworks shares are trading lower after the company said preliminary unaudited Cell Engineering revenue is expected to be within the previously disclosed guidance range of $145 – $150 million in 2023.
Portfolio Pulse from Benzinga Newsdesk
Ginkgo Bioworks' stock is trading lower following the company's announcement that its preliminary unaudited Cell Engineering revenue for 2023 is expected to be within the previously disclosed guidance range of $145 – $150 million.
January 10, 2024 | 8:24 pm
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Ginkgo Bioworks' shares are down after the company announced its 2023 Cell Engineering revenue is projected to meet the previously stated guidance of $145 – $150 million.
The stock is trading lower as the market may have anticipated a higher revenue projection than the one confirmed by the company. Meeting, rather than exceeding, guidance can often be interpreted by investors as a lack of positive momentum or upside surprise, which can lead to a negative short-term impact on the stock price.
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