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.
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.
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.
Finance and Entertainment Reporter
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