As the Covid-19 pandemic became severe, antibodies of the virus and the vaccine were spotlighted. For protection, vaccines were created and provided to some countries, and people hoped that this tragic event would now die down.
Celltrion, a company that developed antibodies for the virus, received a CE certification in Europe. These antibodies are called TekiTrust, and it uses Enzyme-Linked ImmunoSorbent Assay, also known as ELISA to test whether the person who got the vaccine has the antibodies or not. They announced that they will make the project global, so that other countries can use them. On the news, people say that Celltrion is a moderately growing company, and they grew rapidly during the Covid pandemic by developing DiaTrust. Therefore, many people believed that the stock price for Celltrion would rise, since they got CE approval in Europe and now they can export them.
However, the stock price did just the opposite. There was no bad news about Celltrion, but their stock price kept on decreasing. These days, there are some stocks that rise or fall for no reason, but it is the result of a decrease in the number of short selling. It has decreased until last week, May 24th, but suddenly rose starting this week. It was shown that most of it was bought by foreign investors.
The movement in the stock market was always faster than the news, so I believe that there was some news prepared for Celltrion, and why it increased so suddenly. As the number of short selling decreases for about three months, the stock price’s variability will change.