Zymergen rebounds with a 76% rally after Cathie Wood's Ark Invest tripled its stake in the synthetic biology company

ARK InvestZymergen recovered by up to 76% on Thursday, after falling 76% on Wednesday.After Ark Invest's tripled stake in Zymergen, Cathie Wood's Ark Invest rallies in Zymergen.Ark Invest Genomic Revolution ETF now has more than 3.5 Million Zymergen shares.Subscribe to our daily newsletter 10 Things Before The Opening Bell.Zymergen shares rose as high as 76% Thursday, helping the synthetic biology firm to recover some of its huge losses of Wednesday.Zymergen fell 76% yesterday, after the company said that issues with its main product would stop it from generating material revenues this year.Ark Invest, headed by Cathie Wood, saw potential in Zymergen’s Wednesday decline and eventually tripled its stake. On Wednesday, the Ark Invest Genomic Revolution ETF purchased more than 2.5 million shares from Zymergen. This brought its stake in the company to over 3.5 million.Zymergen stated Tuesday in a statement that it was aware of problems with its commercial product pipeline, which will affect the company's delivery timelines and revenue projections. Hyaline is a flexible display technology that Zymergen plans to develop for devices and screens.Zymergen stated that "Several key target customers faced technical problems in implementing Hyaline in their manufacturing processes." Zymergen also said that the company made progress in addressing these issues, but there would be delays in commercializing the product.Zymergen also stated that the total market for foldable displays is growing slower than expected, which means lower sales forecasts.Zymergen was listed in April this year. In Thursday trades, the Ark Invest Genomic Revolution ETF was up by more than 2%.Markets Insider