PacBio Plummets
PacBio announced preliminary earnings yesterday, and the nearly immediate result was a 50% plunge in their share price. Along with the earnings, the company announced significant cost cutting. The details of those cuts were not made available, but some clever tea leave parsers noted a significant omission from what the company said it would continue. The ASeq Discord channel on PacBio absolutely blew up, with opinions ranging from PacBio is in a death spiral to PacBio must be for sale, with significant numbers of "Christian Henry won't be CEO by year's end".
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