Why Ginkgo Bioworks Stock Is Sinking Today

Shares of Ginkgo Bioworks (DNA -10.53%) were sinking 9.5% lower as of 11:34 a.m. ET on Friday. The sell-off came after the biotechnology company announced its fourth-quarter and full-year 2023 results following the market close on Thursday.Ginkgo reported Q4 revenue of $34.8 million, down 65% year over year. This result was well below the Wall Street consensus estimate of$ 42.5 million.The company posted a fourth-quarter net loss of $211.7 million, or$ 0.11 per share. The average analyst estimate was for a ...