Acasti Pharma (NASDAQ:ACST) stock is on the rise Monday despite a lack of news concerning the company.
Here is everything potential investors in ACST stock need to know as shares soar higher today.
- The increase in price for ACST stock comes alongside a spike in trading for its shares.
- As of this writing, more than 101 million shares have changed hands.
- That’s a massive increase from its daily average trading volume of 28 million shares.
- Unfortunately, it’s unclear what’s behind the increase in ACST stock today.
- Its possible investors are boosting the stock higher today in hopes of cashing out profits.
- Strangely enough, this isn’t the first time that ACST stock has been the target of such movement.
- A similar event took place on Dec. 23.
- At that time, the stock was up roughly 100% without there being any news about it.
- For a period after that, the stock dropped back down before steadily increasing again.
- It’s worth pointing out that ACST is a penny stock and those are typically more susceptible to volatile price changes.
- Even after its rally today, Acasti Pharma is still only seeing shares of its stock trade for about 83 cents each.
- Acasti Pharma is a pharmaceutical company with a focus on developing cardiovascular drugs.
- This has seen it using its medications to treat patients suffering from hypertriglyceridemia.
ACST stock was up 44.4% as of Monday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.