Cove Street Capital requires a modern browser to look and function properly. Internet Explorer stopped receiving updates in January 2020. Using it may cause display issues on our website, and put your own online security at risk. We highly recommend switching to a secure modern web browser such as Chrome, Edge, Firefox, or Safari.

Well Maybe Spacs and Robinhood Aren’t THAT Much Worse: Zymergen

Zymergen–ZY-NYSE – went public in early May 2021 via IPO led by Goldman Sachs and JP Morgan at $30 per share. It dutifully rose to $48 on such esteemed backing.

  • Zero revenues? Check.
  • Huge TAM? (bio-manufacturing platform) Check.
  • Bleeding cash? Check. 10x 2023 revenue estimates? Check.
  • “Cheap” to high growth peers? Check.
  • Glowing sell-side reports by the underwriters? Check

In what might truly be a record in my brain, it took 4 months for the comeuppance: delays, no revenue in 2021, CEO resignation.

To paraphrase without a celebrity or lizard, “So what’s in your portfolio?”

Read the Cove Street Capital Disclaimer→
Home
About Us
Our Team
Strategies
quotes
Thoughts
Disclosure & Regulatory Docs
Mutual Fund
Contact Us

Important Notice

You are now leaving Cove Street Capital’s website and entering Cove Street’s Mutual Fund website.

Proceed
Cancel