Charts of the day II: The Amyris debacle continues


Amyris [previously and extensively], the company the University of California, Berkeley held up as a shining example of a campus-spawned startup and founded by a prof who was once the darling of the financial press, continues its descent into financial oblivion, with the stock selling for a mere 34 cents today, just one percent of its post-IPO high $33.85 on 28 February 2011.

Two charts track the stock’s plunge [which is bad news for French oil giant Total and the Singapore government’s sovereign wealth fund Temasek Holdings, the company’s largest shareholders].

The first chart comes from NASDAQ, the exchange which had listed the stock until the company filed a Notice of Delisting after shares plunged below the $1 level and turned the company’s offering into a so-called penny stock, presents the most genteel look at the plunge by using an algorithmic scale to tone down the bad news:

blog aMYRIS

The second chart, from the Financial Times, uses the more common sensical arithmetic scale:

BLOG Amyris 2

Either way, it’s bad news — for Amyris, for its shareholders, and for the University of California officials who are hell-bent on turning the greatest university system in the country into a tool of the corporation.

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