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Health Care : Life Sciences Tools & Services | Small Cap Blend
Company profile

Bionano Genomics, Inc. is a genomics company, which provides optical genome mapping (OGM) for genome analysis. The Company offers diagnostic services to physicians specializing in medical management for individuals with genetic conditions, such as pediatric neurodevelopmental disorders, including autism spectrum disorders. It markets and sell the Saphyr system, which delivers OGM data to enable ultra-sensitive and ultra-specific detection of all classes of structural variation. Its Lineagen business provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. Through its BioDiscovery business, it offers a platform-agnostic software solution, which integrates sequencing and microarray data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view.

Closing Price
$0.2788
Day's Change
-0.0312 (-10.06%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.3299
Day's Low
0.2786
Volume
(Light)
Volume:
4,450

10-day average volume:
6,535
4,450

Hindenburg Research gloats as Elon Musk puts Twitter buyout on hold

12:01 pm ET May 14, 2022 (MarketWatch)
Print

By Theo Wayt

Investment group revealed it had short position in Twitter, meaning that it likely profited from Friday's plunge

A Twitter short seller gloated on Friday after Elon Musk pumped the brakes on his $44 billion bid to buy out the social media site with a bizarre tweet that claimed negotiations were "on hold"

Short-seller Hindenburg Research had written Monday that Musk "holds all the cards" in the deal and could threaten to walk away in order make the company's board agree to a lower purchase price.

"Interesting," a Musk responded at the time. "Don't forget to look on the bright side of life sometimes!"

Then on Friday morning, Musk revealed that the deal was "temporarily on hold" due to concerns about "spam/fake accounts" -- then insisted hours later that he was "still committed" to the buyout.

Hindenburg Research's founder, Nate Anderson, coyly claimed victory on Friday after Musk's waffling sent Twitter's share price plummeting as much as a quarter early Friday before it partially recovered.

"I'm looking on the bright side of life this morning," Anderson wrote.

Twitter shares were trading at $41.50 mid-day on Friday, which is 8% lower than the previous day and nearly 25% below Musk's marijuana-themed buyout price of $54.20 a share -- indicating Wall Street is skeptical the deal will go through under its current terms, if at all.

See also:Elon Musk is likely trying to get a lower price for Twitter with 'deal on hold' move

Hindenburg has a record of writing scathing take-downs of what it believes to be over-valued tech companies, including electric vehicles makers Nikola and Lordstown Motors, as well as controversial health insurer Clover Health.

When Hindenburg released its initial report on Twitter this Monday, the investment group revealed it had taken a short position in the company, meaning that it likely profited from Friday's plunge.

"If Elon Musk's bid for Twitter disappeared tomorrow, Twitter's equity would fall by 50% from current levels," Hindenburg wrote Monday. "Consequently, we see a significant risk that the deal gets repriced lower."

Twitter (TWTR) shares were trading at $41.50 mid-day on Friday, which is 8% lower than the previous day and nearly 25% below Musk's marijuana-themed buyout price of $54.20 a share -- indicating Wall Street is skeptical the deal will go through under its current terms, if at all.

Hindenburg has a record of writing scathing take-downs of what it believes to be over-valued tech companies, including electric vehicles makers Nikola and Lordstown Motors, as well as controversial health insurer Clover Health.

When Hindenburg released its initial report on Twitter this Monday, the investment group revealed it had taken a short position in the company, meaning that it likely profited from Friday's plunge.

"If Elon Musk's bid for Twitter disappeared tomorrow, Twitter's equity would fall by 50% from current levels," Hindenburg wrote Monday. "Consequently, we see a significant risk that the deal gets repriced lower."

Even ex-President Donald Trump appeared to echo Hindenburg's position on Friday, writing, "There is no way Elon Musk is going to buy Twitter at such a ridiculous price."

"If it weren't for the ridiculous Billion Dollar breakup fee, Elon would have already been long gone," Trump added in a post on his own Twitter alternative website, Truth Social.

This article was first published on NYPost.com

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(END) Dow Jones Newswires

May 14, 2022 12:01 ET (16:01 GMT)

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