Shares of synthetic DNA company Twist Bioscience (NASDAQ:TWST) are tanking today after a new short report by Scorpion Capital.
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Scorpion has called the company a ‘cash burning inferno’ and alleged that Twist’s factory in Wilsonville is empty.
Further, the short seller sees Twist stock going to ‘zero.’ Twist shares have declined 63.2% year-to-date and short interest in the stock currently stands at almost 11%.
The company is slated to report fourth-quarter numbers on November 18 before markets open. Analysts expect Twist to report a net loss per share of $1.25 for the period.
In the year-ago period, it had posted a net loss per share of $0.84, wider than estimates by $0.04. The company is yet to turn a profit.
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