Zymergen (ZY) Bounces as Cathie Wood's ARK Doubles Down on Dip

Zymergen (NASDAQ: ZY) is gaining pre-open after Cathie Wood's ARK Genomic Revolution ETF disclosed it bought about 2.5 million shares yesterday as shares plunged 76%.

The fund had a prior stake, bringing its total stake to 3,524,173 shares after the latest purchase.

Yesterday's plunge in the stock was related to news Zymergen no longer expects product revenue in 2021, while the same will be “immaterial” in 2022.

Below is a summary of ARK trades from 08/04/21:

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