OCGN Stock: Why Ocugen Shares Are Shooting Higher Today

investorplace2021-09-14

We should never underestimate the power of speculation when it comes to driving stocks up suddenly, particularly in the age of meme stocks and social media investing. We’ve seen it many times, and it ...

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Annie_ann29
2021-09-14
Annie_ann29
Like plz
SXZX2026
2021-09-14
SXZX2026
It is still not making money
- Annie_ann29:
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We’ve seen it many times, and it looks as though it may be happening today. Shares of clinical-stage biotech producer Ocugen(NASDAQ:OCGN)enjoyed a day of steady growth following a significant spike this morning.\nShares of OCGN have spiked since markets opened today, rising to as much as $8.75 up from $7.36. The stock closed out the day higher by 15.8%.\nPrior to the start of the Covid-19 pandemic, Ocugen was primarily invested in the development of treatments for blindness-inducing illnesses. When the pandemic began, its focus pivoted toward vaccine development. Though OCGN stock has not benefitted from regulatory approval like Pfizer(NYSE:PFE) or Moderna(NASDAQ:MRNA), recent reports have indicated that one of Ocugen’s partners may soon receive international approval for its Covid-19 vaccine. In turn, this could provide the long-awaited catalyst for Ocugen and its shareholders.\nWhy It Matters\nOcugen’s partnership is with India-based biopharmaceutical producer Bharat Biotech, the developer of Covaxin, garnered considerable media attention today after a handful of Indian publicationsannouncedBharat expected to receive full emergency-use listing (EUL) from the World Health Organization (WHO) before the end of the month.\nAlthough the vaccine is manufactured in India, the partnership between Bharat Biotech and Ocugen will enable the latter to help commercialize and distribute the vaccine on U.S. soil. 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