In a report released in October 2021, Scorpion Capital alleged Ginkgo Bioworks Holdings Inc of being a "colossal scam", claiming that the company, at a $23 billion valuation, was ridiculously overpriced. Former employees cited in this short report claimed that 9 out of 10 projects launched by the company since its inception have failed. Ginkgo shares crashed 12% on the same day the report was released. Investor sentiment deteriorated further when the Department of Justice launched an investigation into the ...