Million

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>In a week, DNA stock price surged over 33% and in a quarter, its prices soared 41.51%.</a> </li> 
 <li> <span>2</span> <a>Ginkgo Bioworks Holdings, Inc., entered a five-year strategic cloud and AI partnership with Google Cloud.&nbsp;</a> </li> 
 <li> <span>3</span> <a>On August 31, 2023, Exacta Bioscience announced a strategic partnership with Ginkgo Bioworks Holdings. Inc.</a> </li> 
</ul> 
<p>DNA stock was weakly trading below $2 since the beginning of 2023, the surge continued till February 2 and in the following session, a heavy decline was observed. However, at the time of publication, Ginkgo Bioworks Holdings, Inc. stock was trading 42.41% higher than its YTD price.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-dna-stock-price-analysis-strong"><strong>DNA Stock Price Analysis&nbsp;</strong></h2> 
<p>A speculative surge in the trading volume of DNA stock was seen on August 29 and August 30, simultaneously. The sudden surge in the trading volume indicates that some giant investors might have injected a huge amount of funds on these days.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/8mPGTgMLUIg-GdTronxu6bARhiPnPI1BSHrQ7t5Bm-DYXXbhAlDboOLyxDeesYiC_VOS_nQTCpKMuL43Jy8VD5RS9uyhSbI9t-vF2dR8VPf58okmio_D6xgFCBBcLQtIAqtWYNFpBQLDfLOeSWB-m0I" alt="DNA Stock Surged Over 10%, Are New Partnerships a Good Sign?&nbsp;&nbsp;"> 
  <figcaption class="wp-element-caption">
    Source: DNA stock price chart from TradingView&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>During a close analysis, it was observed that bulls created a powerful momentum on August 25, 2023, and it continued till August 30. In this time frame, a surge of 40.34% is seen in DNA stock trading price.&nbsp;</p> 
<p>The RSI is above neutrality and the signal line is far away from the curve. A declining movement might be seen in the next few trading sessions as the signal line is constantly approaching the overbought region. If the signal line crosses 70 then it is assumed that a severe decline might be seen in the DNA trading price.&nbsp;&nbsp;&nbsp;</p> 
<p>The MACD indicator suggested a bullish crossover showing mild positivity. Moreover, the signal line is close to the MA line indicating that buyers are trying to retain the momentum.&nbsp;</p> 
<p>DNA stock’s 52-week trading range lies between $1.12 to $3.52, Ginkgo Bioworks Holdings, Inc. has a market capitalization of $4.67 Billion and its share average trading volume is 22.313 Billion.&nbsp;</p> 
<p>If buyers continued their dominance over sellers then there are possibilities that DNA stock might surge further and meet immediate resistance of $2.94 and following resistance of $3.24.&nbsp;</p> 
<p>In a different scenario, if buyers fail to control the sellers in upcoming sessions then the possibilities are that DNA stock might slip significantly and face immediate support of $1.58 and maybe second support of $1.27.&nbsp;</p> 
<p>In a week, DNA stock price surged over 33% and in a quarter, its prices soared 41.51%. Ginkgo Bioworks Holdings, Inc. stock has an annual price target of $4.02 which is 78.61% greater than the current trading price.&nbsp;</p> 
<p>Despite these positive movements, DNA stock has faced a decline of 8.16% in a month and 16.67% in the past year. Ginkgo Bioworks Holdings, Inc. is a biotech company. Its platform is market-agnostic and enables biotechnology applications across diverse markets, from food and agriculture to industrial chemicals to pharmaceuticals.&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-reason-behind-dna-stock-price-surge-strong"><strong>Reason Behind DNA Stock Price Surge&nbsp;</strong></h2> 
<p>On August 31, 2023, Exacta Bioscience announced a strategic partnership with Ginkgo Bioworks Holdings, Inc. In this alliance, Exacta Bioscience will leverage Ginkgo’s end-to-end agricultural R&amp;D services to run a fermentation optimization and scale-up program to enhance one of its crop protection products, FitoRoot, paving the way for large-scale commercialization.&nbsp;</p> 
<p>Ginkgo Bioworks Holdings, Inc. entered a five-year strategic cloud and AI partnership with Google Cloud, intended to enable Ginkgo to develop and deploy AI tools for biology and biosecurity.</p> 
<p>Under the strategic partnership, Ginkgo will work to develop new, state-of-the-art large language models running on Google Cloud’s Vertex AI platform across genomics, protein function, and synthetic biology.</p> 
<h3 class="wp-block-heading" id="strong-ginkgo-bioworks-holdings-inc-financial-updates-strong"><strong>Ginkgo Bioworks Holdings, Inc. Financial Updates&nbsp;</strong></h3> 
<p>For Q2, 2023, <a href="https://www.thecoinrepublic.com/2023/08/14/dna-stock-price-prediction-will-ginkgo-bioworks-fall-more/" rel="noopener noreferrer nofollow">Ginkgo Bioworks Holdings, Inc. </a>was supposed to report $71.50 Million in revenue but impressing its investors, it reported $80.57 Million in revenue. The company is yet to report third and fourth-quarter revenue and as per expectation in Q3 it might report $47.89 Million and $54.81 Million in Q4 2023.&nbsp;</p> 
<p>The expected EPS for Q2 was negative 0.09 and the reported EPS was 4.35% less than the estimated figures. In the financial year 2022, the company reported $477.71 Million in revenue from which its net income was -$2.01 Billion and profit margin was -440.63%.&nbsp;&nbsp;</p> 
<p>According to TradingView, 1.264 Billion DNA shares are free-floating, and the remaining 693.205 Million shares are closely held either by financial backers of the company or the board of members.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h4> 
<p>Major Support: $1.58 and $1.27&nbsp;</p> 
<p>Major Resistance: $2.94 and $3.24</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>DNA stock was weakly trading below $2 since the beginning of 2023 but a major surge in the trading volume since the past few days is seen. It is observed that the partnership with Google Cloud has fueled <a href="https://www.thecoinrepublic.com/2023/08/14/dna-stock-price-prediction-will-ginkgo-bioworks-fall-more/" rel="noopener noreferrer nofollow">DNA trading prices</a> in the past three trading sessions.<strong>&nbsp;</strong></p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

DNA Stock Surged Over 10%, Are New Partnerships a Good Sign?

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Thecoinrepublic.com

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