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SAN DIEGO — A key component of Biotech Ltd.'s rolling out plan, an aerosol scanner intended for use at airports, went missing yesterday.
Worthington Industries acquired Biotech in early 2015 in an attempt to expand their technological sectors, and in a move that raised investors's concerns, invested heavily in the fledgling organization.
"We are always excited when a new company joins the Worthington Industries family, and we are especially excited by Biotech," said Tamara Sparks, the company's spokeswoman, earlier this year. "Although a fairly new company, they are currently on the cutting-edge of genetics technology and many of the projects are very promising."
Now, less than a day after the theft, there is no official comment from Worthington Industries, although it is clear that investors are noticing the crime. Shares on the company dropped several points today, and financial experts are predicting it will continue to fall until a statement is released.
"The uncertainty and lack of communication is worrisome," Jack Stewart, professor of economics at New York University, stated. "This is not usual behavior for Worthington Industries, and if it continues, investors will wonder if the leadership is hiding something bigger than a theft."
More as this story unfolds.
Worthington Industries acquired Biotech in early 2015 in an attempt to expand their technological sectors, and in a move that raised investors's concerns, invested heavily in the fledgling organization.
"We are always excited when a new company joins the Worthington Industries family, and we are especially excited by Biotech," said Tamara Sparks, the company's spokeswoman, earlier this year. "Although a fairly new company, they are currently on the cutting-edge of genetics technology and many of the projects are very promising."
Now, less than a day after the theft, there is no official comment from Worthington Industries, although it is clear that investors are noticing the crime. Shares on the company dropped several points today, and financial experts are predicting it will continue to fall until a statement is released.
"The uncertainty and lack of communication is worrisome," Jack Stewart, professor of economics at New York University, stated. "This is not usual behavior for Worthington Industries, and if it continues, investors will wonder if the leadership is hiding something bigger than a theft."
More as this story unfolds.