2 Penny Stocks at Opposite Ends of the Nasdaq Today

Achieve Life Sciences reported positive data for its smoking cessation drug

Managing Editor
Sep 27, 2018 at 10:10 AM
facebook twitter linkedin


Geron Corporation (NASDAQ:GERN) stock is down 68.7% to trade at $1.95 -- fresh off a four-year low of $1.50, and the worst stock on the Nasdaq this morning -- after the company said Johnson & Johnson (JNJ) division Janssen will terminate its collaboration for imetelstat, a blood disorder treatment, even as a recent job posting suggested otherwise. The drug program will now be developed by Geron independently, which prompted the firm to raise its 2018 operating expenses outlook by $7 million to $37 million.

Although the stock quickly found itself on the short-sale restricted (SSR) list this morning, short sellers are likely cheering today's collapse. Short interest increased by 6% in the last two reporting periods to 63.43 million shares -- the highest in at least 16 years. This represents nearly 40% of GERN's total available float, and 5.8 times the average daily trading volume.  

Achieve Life Sciences Inc (NASDAQ:ACHV) stock, on the other hand, is up 58.8% to trade at $4.34 this morning -- one of the top stocks on the Nasdaq so far. Driving ACHV higher is news that a new formulation for the company's smoking cessation treatment, cytisine, was successful in a recent study.

This is shaping up to be ACHV's best day since late 2008. Today's rally has the shares slicing through their 40-day moving average, a trendline that kept a tight lid on breakouts in the past four months. Nevertheless, the shares remain 81% lower year-over-year, and hit a record low of $2.40 on Sept. 18.

 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

 


 


 
Special Offers from Schaeffer's Trading Partners