Ocugen (OCGN) stock Slumps 35% From Monday’s High: Should You Worry?

Ocugen Inc (NASDAQ:OCGN) stock continues to see heavy selling pressure this morning after yesterday’s slump in the final hour. Although OCGN stock has recovered a bit and now down 5.77% at $1028 after falling to a low of $9.50.

Ocugen (OCGN) stock Slumps 35% From Monday’s High: Should You Worry?

The stock has fallen about 35% from its Monday’s high on heavy profit booking despite all the good news.

Yesterday, the stock fell almost 20% from an intraday high following the report that USTR Katherine Tai will have talks about intellectual property waiver regarding COVID-19 vaccines.

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Until last Friday, the stock had rallied almost 200% in 2 weeks on continuous optimism about the company’s vaccine – Covaxin.

Now all eyes would be on the company’s first-quarter earnings, which is due to be out tomorrow before the market opens.

OCGN stock might see nice support at around $8.70 – which is the 50-day moving average price.

 

 

 

 

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.