Ocugen Inc. Stock Falls Wednesday, Underperforms Market

Cheetah Net Supply Chain Service Inc

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Company profile

Cheetah Net Supply Chain Service Inc. is a supplier of parallel-import vehicles in the United States to be sold in the People’s Republic of China (PRC) market. The Company and its wholly owned subsidiaries are primarily engaged in the parallel-import vehicle dealership business. In the PRC, parallel-import vehicles refer to those purchased by dealers directly from overseas markets and imported for sale through channels other than brand manufacturers’ official distribution systems. The Company purchases automobiles, primarily luxury brands such as Mercedes, BMW, Porsche, Lexus, and Bentley, from the U.S. market and resells them to its customers, including both U.S. and PRC parallel-import car dealers. The Company holds 100% of the equity interests in the subsidiaries, such as Allen-Boy International LLC, Canaan International LLC, Pacific Consulting LLC, Canaan Limousine LLC, Entour Solutions LLC, Spirit Solutions LLC, and Cheetah Net Logistics LLC.

Ocugen Inc. Stock Falls Wednesday, Underperforms Market

5:15 pm ET May 24, 2023 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Ocugen Inc. (OCGN) plummeted 35.05% to $0.47 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index falling 0.73% to 4,115.24 and Dow Jones Industrial Average falling 0.77% to 32,799.92.

The stock's fall snapped a three-day winning streak.

Ocugen Inc. closed $2.64 below its 52-week high ($3.11), which the company reached on July 8th.

Trading volume (45.0 M) eclipsed its 50-day average volume of 6.3 M.

Data source: Dow Jones Market Data, FactSet. Data compiled May 24, 2023.

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

May 24, 2023 17:15 ET (21:15 GMT)