LGVN - Longeveron pares back gains after social media-driven rally

Following a sharp rally on Monday thanks to its popularity on social media, Longeveron (LGVN -32.7%) has lost more than a quarter of value in morning hours on above-average volume. Over ~8.8M Longeveron (NASDAQ:LGVN) shares have changed hands compared to the 65-day average volume of ~8.0M shares. The Florida-based company focused on treatments for age-related issues climbed more than 300% over the past three-day period, as shown in the graph below. The stock more than doubled in value on Thursday and Monday, and its Friday’s gain stood at ~46%. According to sites that track mentions of ticker symbols on social media sites, Longeveron (LGVN) was among the most popular stocks cited on social media platforms. Recent momentum has propelled the clinical-stage biotech to the small-cap status from a micro-cap valuation at its IPO early this year.

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Longeveron pares back gains after social media-driven rally