Is It Too Late to Buy Ocugen Stock?

Shares of Ocugen (NASDAQ: OCGN) have been losing steam of late. The once-popular meme stock has been falling in recent weeks, and its current level of just over $8 a share has it down more than 55% from the 52-week high of $18.77 it hit earlier in the year. Hype around its COVID-19 vaccine, Covaxin, is what initially got investors excited about the stock toward the end of last year.

But now, the company has confirmed it won't seek an emergency use authorization (EUA) for the vaccine candidate. Does that mean it's too late to invest in Ocugen? Or could this be the ultimate contrarian buy?

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Source Fool.com