Wolfpack Research announces short position in Invitae
Dan David's Wolfpack Research announced via Twitter a short position in Invitae. Wolfpack tweeted, "$NVTA new short from @akramsrazor - He dubs it 'The WeWork of Genetics' We agree and are also short $NVTA The $TSLAQ crowd should like this one - Cathie Wood is $NVTA largest shareholder! ...We've seen plenty of these Silicon Valley business models before: selling $1 for $0.80 to show "growth", incinerating massive amounts of cash and telling investors not to worry about it because its the next (*insert irrelevant FAANG comparison here*).. Where's the moat?: Its data is shared publicly. Higher cost per test than competitors, but selling at a lower price point. And now entering the DTC space to go up against monsters like 23andMe & Ancestry." Shares of Invitae are down 7c to $18.49 in midday trading.