Biotech company Longeveron shares soared 145%
$Longeveron(LGVN.US$ On Wednesday, a large amount of money poured into a biotechnology company called Longeveron LLC. The company's stock price rose 145% that day. In the past five trading days, the company's stock price has risen by 1348%.
Longeveron is a US biotechnology company. It announced on November 18 that the US FDA had approved the company's drug Lomecel-B for the treatment of a rare pediatric disease.
The analysis believes that the reason for this stock's skyrocketing is that the short sellers encountered a short-squeeze market, and they are trying to buy the stock to close their positions, thus triggering the price of this stock to rise. Data on Tuesday showed that short bets on Longeveron were as high as about 14% of liquidity.
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