Ahieve Life Sciences (ACHV) Stock Rockets: Here’s Why

Achieve Life Sciences ACHV Stock News

Achieve Life Sciences Inc (NASDAQ: ACHV) is rocketing in the market this morning, trading on gains of more than 43%. However, the company hasn’t issued any press releases or filed anything with the SEC. In fact, many on StockTwits are asking what’s happening. Well, here’s what’s happening:

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ACHV Is Squeezing The Shorts

There doesn’t always have to be news to trigger a short squeeze, and Achieve Life Sciences is showing us that this morning. Prior to today’s trading session, the stock was trading with average short volume of around 35%. That’s incredibly high.

The problem for the shorts is that shorting a stock that is on an uptrend like we’ve seen with ACHV over the past month, can be pretty dangerous. After all, as a stock moves up, those who short sell the stock start to lose money.

With such heavy short interest, it doesn’t take much to spook the short sellers. While there has been no news, the upward trend that the stock has been experiencing as of late has triggered shorts to begin the race to cover their positions. Ultimately, this leads to an influx of buying, sending both volume and price surging.

ACHV Beyond The Short Squeeze

The fact of the matter is that while the short squeeze is driving attention for Achieve Life Sciences, the company represents a strong opportunity outside of the squeeze. It has to do with smoking.

Over the past decade or so, we’ve seen a big push to get smokers to quit smoking cigarettes. However, doing so is very difficult. In order to fight the addiction, smokers spend more than $21 billion annually on products that are designed to help them quit.

With that ACHV is working on a smoking cessation product known as cytisinicline, and has had some pretty strong success. In fact, about a month ago, the company released the results from an investigator-initiated study that compared cytisinicline to the top smoking cessation drug on the market, Chantix.

Importantly, cytisinicline outperformed Chantix, setting the stage for the company to push toward commercialization with a drug that represents a multi-billion dollar opportunity.

So, even without the short squeeze, the promise offered through cytisinicline suggests that you should be paying close attention to ACHV stock.

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