Ginkgo Bioworks Holdings shares are trading lower after the company reported worse-than-expected Q4 financial results and issued FY24 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Ginkgo Bioworks Holdings' shares dropped following the announcement of disappointing Q4 financial results and a revenue forecast for FY24 that fell short of expectations.
March 01, 2024 | 12:45 pm
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NEGATIVE IMPACT
Ginkgo Bioworks Holdings' stock price declined due to poor Q4 financial performance and pessimistic revenue outlook for FY24.
Stock prices often react negatively to financial results that do not meet expectations, as well as to forecasts that indicate slower future growth. Ginkgo Bioworks Holdings' announcement of both weaker-than-expected Q4 results and a lower revenue guidance for FY24 directly impacts investor sentiment and the perceived value of the company, leading to a decrease in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100