Ocugen, Inc. (NASDAQ: OCGN) was removed from the S&P Biotechnology Select Industry Index, effective December 22, 2024. This change reflects a rebalancing within the index. Inclusion or exclusion from such indices can impact a company's stock performance.
Index removals often lead to institutional investors, particularly those managing index funds, selling off their shares to align with the new index composition. This can result in increased selling pressure on the stock. The S&P Biotechnology Select Industry Index tracks companies primarily involved in the biotechnology sector.
While the specific reasons for the removal were not detailed in the provided information, such events can affect a company's visibility and liquidity in the market. Investors will monitor the implications of this change on Ocugen's trading dynamics.
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