Longeveron (LGVN) Stock: Why The Price Surged Today

By Amit Chowdhry ● Nov 24, 2021
  • The stock price of Longeveron Inc (NASDAQ: LGVN) increased by over 100% during intraday trading today. This is why it happened.

The stock price of Longeveron Inc (NASDAQ: LGVN) increased by over 100% during intraday trading today. The rally appears to be driven by a coordinated short squeeze.

Investors on social media platforms like Discord, Reddit, Twitter, StockTwits, etc. cited Longeveron as being a candidate for a short squeeze due to the high short interest percentage and the low float. 

A couple of days ago, the stock price of Longeveron closed 181.16% higher so this is a continuation of momentum as well. Earlier this month, Longeveron announced that the U.S. Food and Drug Administration (FDA) has granted Rare Pediatric Disease (RPD) designation for Lomecel-B for the treatment of Hypoplastic Left Heart Syndrome (HLHS), a rare and life-threatening congenital heart defect in infants. And Lomecel-B, an investigational allogeneic, bone marrow-derived medicinal signaling cell (MSC) product, is currently being evaluated in a Phase 2 trial.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.