Soaring Biotech Penny Stock: Acorda Therapeutics (NASDAQ: ACOR)

Cash burning biopharma company from New York, Acorda Therapeutics (NASDAQ: ACOR) today jumps over 30% on more than 30 million shares. In long run, the stock has been losing around 2.4 points while many investors kept running away. Due to volatility ACOR gives hopes to short term traders who take quick profits within hours.

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On March 16 the stock could rise from $0.99 to $1.11 on trading 1.99 million shares within a day but the next four days have shown a drastic fall to $0.80. Then record high point of April occurred at $1.20, then a sharp fall caused a $0.46 loss on May 11.

Expectation beating Q2 earnings somehow encouraged some investors to buy on July 21 and 22. Due to the absence of clinical trial updates, the stock has plummeted within a year. There is a big hope in announcing positive news regarding the ongoing tests of potential candidates for revenue generation.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.

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