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Why Shares of Ocugen Jumped Thursday

TheMotleyFool

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Why Shares of Ocugen Jumped ThursdayPhoto, wide shot, wide-angle lens, Clinical research organization, sunset photo at golden hour, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/02f7778c-d723-4fb3-bdef-fabb7e5fc9c8.png

Shares of clinical-stage biotech Ocugen (NASDAQ: OCGN) climbed as high as 14.2% on Thursday, to $1.29, shortly before noon.

Ocugen focuses on gene and cell therapies and vaccines to treat retinal diseases, infectious diseases, and orthopedic conditions. The stock is a meme favorite, listed at No. 79 on the Robinhood Top 100 list, and as such has been volatile.

It's possible, with 18.87% of the float sold short, some traders could be attempting a short squeeze. The company didn't have any announcements on Wednesday or Thursday. It's down more than 72% so far this year and is a lot closer to its 52-week low of $1.09 than its 52-week high of $5.06.

Source Fool.com

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