Why Ocugen Climbed 8% Higher Today

Investors again got excited about Ocugen (NASDAQ: OCGN) on Thursday, sending the shares 8.1% higher at market close. There was no direct, market-driving news behind this; it's very possible that investors are loading up in advance of an important milestone for the stock.

Last week, Ocugen excitedly announced that its stock will be a component of the Russell 3000 index, as a result of the index's once-per-year reconstitution. This is effective before market open on Monday, so both institutional and individual investors might be buying on the hopes of a lift once Ocugen's membership becomes official.

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Source Fool.com