Back in December last year, Ocugen Inc (NASDAQ:OCGN) was just another penny stock that was trading at levels below a dollar.
However, the fortunes of the stock changed dramatically after Ocugen announced that it teamed up with Indian company Bharat Biotech for commercializing the latter’s COVID 19 vaccine in the United States. Since December 1, the stock has delivered gains of as much as 3320%.
On top of that, it is also important for investors to keep in mind that the Bharat Biotech vaccine, Covaxin, has been authorized in India already and is being regarded as a top-tier product. While these are all promising developments, it should be noted that there is no shortage of COVID 19 vaccines in the United States, and Ocugen might have entered the COVID 19 vaccine space a bit too late.
The company has no product revenue either. In this situation, it might be a good idea for investors to be on the sidelines. The enormous gains may be a thing of the past.
Editor in Chief.
Living in the era of dynamic tech change Alex 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 in Finance) writing for technology and as well as finance has been one of the precious aspects of his life