AcelRx Pharmaceuticals (NASDAQ:ACRX) stock is seeing major gains on Thursday after announcing a presentation for the upcoming Plastic Surgery: The Meeting 2022.
That meeting is set to take place from Oct. 27 to Oct. 30 in Boston, Massachusetts. AcelRx Pharmaceuticals will present an abstract titled “Experience in Complex Outpatient Plastic Surgery Procedures Using Sufentanil Sublingual Tablets.”
In addition to this news, ACRX stock is experiencing heavy trading today. More than 35 million shares are on the move as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 2.1 million shares.
News of AcelRx Pharmaceuticals’ upcoming presentation doesn’t seem like it would be enough to warrant this level of trading. Instead, day traders are likely giving ACRX stock a boost today.
Considering this name’s status as a penny stock, that’s easy enough for traders to do. Shares only traded at 24 cents prior to today’s rally. AcelRx’s market capitalization sits at just above $40 million as well.
What Does This Mean for Investors?
Be careful about making any investments in ACRX stock on today’s news. It’s possible that, once the interest from day traders subsides, the share price will come falling back down.
ACRX stock is up 26% as of Thursday morning but down more than 50% since the start of the year.
There’s more recent stock market news traders will want to be aware of below!
InvestorPlace offers up all of the hottest stock news traders need to know about for Thursday! A few examples include what has shares of Chicken Soup for the Soul Entertainment (NASDAQ:CSSE), Veru (NASDAQ:VERU) and Esports Entertainment Group (NASDAQ:GMBL) all on the move. You can find out more at the following links!
More Thursday Stock Market News
- Chicken Soup for the Soul Entertainment (CSSE) Stock Pops as Redbox Deal Closes
- Why Is VERU Stock Up 36% Today?
- What Is Going on With Esports Entertainment (GMBL) Stock Today?
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.