Why Berkeley Lights Stock Is Plummeting Today

why berkeley lights stock is plummeting today

Sumary of Why Berkeley Lights Stock Is Plummeting Today:

  • What happened Cell biology specialist Berkeley Lights (NASDAQ:BLI) was getting slammed by investors on Wednesday, following a scathing tweet from an institutional short-seller.
  • So what A firm called Scorpion Capital, which describes itself as focused on “activist short selling” of businesses it considers dubious, thrashed Berkeley Lights in a tweet thread published Wednesday morning.
  • In the thread, Scorpion Capital forcefully accused the company of “Fleecing Customers And IPO Bagholders With A $2 [million] Black Box That’s A Clunker.
  • The short-seller is referring to Berkelely Lights’ Beacon, a device that the company describes as “a better, more advanced way to process and analyze cells.
  • ” Scorpion said that its discussions with Berkeley Lights customers and employees indicate the Beacon has sold very poorly.
  • ” Scorpion added that “all it takes is a casual glance at the financials to recognize that [Berkeley Lights] is a raging dumpster fire and.
  • ” While Scorpion divulged that it is short in Berkeley Lights stock, it did not detail the size of its position.

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