This Is Why Ocugen Crashed Despite Apparent Good News : vima

This Is Why Ocugen Crashed Despite Apparent Good News


This Is Why Ocugen Crashed Despite Apparent Good News
InvestorPlace
5/10/2021
Ocugen (NASDAQ:
OCGN) stock was a late entrant into the Covid-19 vaccine race. OCGN stock traded for less than $1 per share through December 2020. Then, however, it announced a transformative deal with India’s Bharat Biotech, and shares popped as much as 3,000% since then.
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The concept image of a vaccine passport with a needle and map.
As recently as a week ago, traders were rushing to buy OCGN stock; shares doubled in late April and hit $16 at their recent peak in the first days of May.
Since then, however, Ocugen shares lost nearly half their value in a few days of frenzied selling. What explains Ocugen’s sudden rise and equally speedy fall?

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