Zymergen, the star company of synthetic biology, released a business report on Aug. 3, saying it was aware that there were problems with the R & D pipeline, encountered some technical problems, and that the market space was not as large as previously expected. the company decided not to forecast product revenue this year and may even have no revenue next year, while announcing that co-founder and CEO Josh Hoffman had resigned and its shares tumbled 76 per cent yesterday.

After Zymergen's thunderstorm, ARK made a bottom of 2.46 million shares.

When Zymergen landed in US stocks in April, ARK, which is keen on technology pharmaceuticals stocks, took a fancy to it. As of Aug. 3 (the day before the Zymergen crash), ARK held 1.0556 million shares through ARKG. It plummeted yesterday. After ARK lost more than $28 million a day, ARK bottomed out. According to data, ARK bought 2.461 million shares of Zymergen through its ARKG.

Zymergen rebounded violently by more than 80 per cent today, with a bottom profit of more than $17.38 million based on yesterday's low of $7.85.

Is ARK successful at the bottom? The big banks of Wall Street may disagree.

Although yesterday's bottom gains were good, it is too early to declare success. After the battle of Zymergen, the views of Wall Street banks have taken a turn for the worse.

HSBC's Sriharsha Pappu downgraded the company and lowered its target price to $8 from $42. "the rest of the company's product line is in the early stages of development, but the only core product at a later stage, Hyaline, has been exposed with a lot of basic problems, which has called into question the company's entire product plan," he said. "

Bank of America analyst Derik de Bruin downgraded Zymergen to "underweight" from "buy" and cut its target price to $7 from $43. Last night's business update was surprising and highlighted the company's implementation problems, with Zymergen slashing and postponing its product sales forecasts on the grounds that the future was uncertain and the change of chief executive, Mr de Bruin said. He thought Zymergen was discredited and mismatched.

Matthew Sykes, an analyst at Goldman Sachs Group, downgraded Zymergen to "neutral" from "buy" and lowered its target price to $12 from $55. The analyst said it would take time to reassess the value of the company's business strategy, applicable end markets and the entire platform, as well as to restore customer confidence.