Acasti Pharma (NASDAQ:ACST) is having trouble on Monday as ACST stock has fallen a great deal.
No new Acasti Pharma news may lead some investors in ACST stock to wonder why it’s trading lower today. There are no official announcements from the company and analysts have been quiet about the stock of late.
It looks like the problem for ACST stock has less to do with news and more to do with trading. As of Monday afternoon, there have been a total of 13,510,517 shares changing hands. That’s incredibly high compared to the typical daily average of 2,054,323 shares.
It’s likely that this massive influx of trading resulted in ACST stock taking a dive, which explains why there’s no specific Acasti Pharma news hitting the stock. A massive amount of trading can hurt a stock in the short-term, but oftentimes it will recover. That’s not the case this time around.
So why exactly is ACST stock still down so low today? The trading of the stock has come to a stop. The last update for the stock’s price comes from 1:30 p.m. Eastern Time. It’s possible that this freeze on trading is keeping the stock from recovering completely. Looking at its price chart, investors can see that the stock was beginning to make a comeback before the freeze put an end to it.
ACST stock was down 24.04% as of Monday afternoon. It’s currently up 218.89% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.