Ocugen Inc (OCGN) Stock Corrects 20% On profit Taking: How to Trade Now?

The Ocugen Inc (NASDAQ:OCGN) stock has displayed considerable volatility this morning and has recorded declines of a further 19% after having started off the day with a drop of 24%.

While the decline may be significant it is also necessary to note that over the past three weeks, the Ocugen stock has rallied by 200%. Yesterday, the stock had recorded gains as well after Ocugen released positive data from the study of the COVID 19 vaccine product Covaxin that it wants to introduce to the United States market.

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Experts who had studied Covaxin at the Indian Council of Medical Research (ICMR) – National Institute of Virology noted that the product could provide protection against the various strains of the coronavirus. Additionally, the vaccine also seemed to display effectiveness against the Brazilian variant. The development had proven to be a source of optimism for many investors and had led to the gains yesterday in the Ocugen stock.

 

Asan Abdiev

CEO and Editor in Chief. Living in the era of dynamic tech change Asan decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring Finance) writing for technology and as well as finance has been one of the precious aspects of his life