November 30, 2016 / 4:27 PM / in a year

BUZZ-Acasti Pharma's three-day rally loses steam

** Drugmaker’s U.S.-listed shares fall as much as 22.2 pct following 3-day rally that sent stock up nearly 48 pct

** Rally peaked Tuesday: stock spiked nearly 80 pct in heavy volume, before easing to end up ~31 pct

** Acasti named new CFO on Monday early morning

** Brokerage Echelon Wealth Partners says share strength on Tuesday did not directly coincide with any sector-specific or company-specific news it noticed

** Stock last down 17.8 pct at $1.48 on Wednesday

** Volume of ~260,000 shares is more than 2x their 25-DMA, but much lower than Tuesday volume of 2.6 mln

** Despite more than doubling in mid-Sept on positive trial data and the recent 3-day rally, stock was still down ~30 pct this year up to Tuesday’s close

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below