Affymax, Inc. (OTCMKTS:AFFY) Finally Livens Up?
[[tagnumber 0]]Affymax, Inc. (OTCMKTS:AFFY)‘s stock has been staying almost still in the charts when you look at its price movements, but is that going to change soon. With no news and an optimistic review that can be seen in the latest headlines for the company the stock is moving up with no actual definitive news coming from AFFY themselves. [[tagnumber 1]]Unlike InVivo Therapeutics Holdings Corporation (OTCBB:<a href=“http://www.thehotpennystocks.com/Stock–Quotes/?stock=NVIV“>NVIV</a>), whose momentum was halted in the last several trade sessions, AFFY shows signs that it might be on a path of returning to its former glory. That, however, is most probably based on the optimistic review that was posted mid–day yesterday and we are yet to hear some definitive news from AFFY themselves.[[tagnumber 2]] [[tagnumber 1]]The trade session moved in a seemingly straight line from the beginning of the day with movements ranging from $1.15 to $1.19 and low volumes of stock being traded. As the day progressed it looked like the usual quiet trade session that we were witnessing in the past month when AFFY‘s stock couldn‘t even reach above their average volume of 757 thousand shares.[[tagnumber 2]] [[tagnumber 1]]That, however, lasted until the optimistic review surfaced in the afternoon at around 02:00 PM. Right after people read it the company‘s stock started trading in mad volumes that were combined with a rapid increase in price. The day continued with quite a lot of shares being traded and the peak of the session, both price–wise and volume–wise was minutes after 03:00 PM, when AFFY‘s stock reached $1.352 per share and the stock registered its biggest spike in volume.[[tagnumber 2]] [[tagnumber 1]]There was a little drop after the big jump in price, but it wasn‘t that significant as it reached a low of $1.28. The volume quieted down and the stock managed to regain its previous positions as it continued to finish the trade session with no significant movements. The total percentile gain that AFFY‘s stock acquired was 13% in the end of the day as the stock went to close at $1.33 from the previous day‘s $1.17.[[tagnumber 2]] [[tagnumber 1]]The volume that was generated in the late hours of the trading session was enough to make the total count of shares that switched hands come at 1.99 million for the day, which is more than double their average. Combined with the jump in price it helped generate a trade value of $2.5 million, which is the highest since investors lost interest in the stock around June 13.[[tagnumber 2]] [[tagnumber 1]][[tagnumber 12]]There are really a lot of factors that might suggest a quick recovery of the company, one of which being the quick and radical measures taken by Takeda to ensure the company doesn‘t have big losses in the time that it has no actual way of generating revenue. If you have followed our articles you would know that we are talking about the hiring of The Brenner Group (TBG) in order to restructure the company, which lead to all their staff being let go in order to minimize costs.[[tagnumber 2]] [[tagnumber 1]]Something that is even more positive is the fact that Takeda isn‘t a company that easily abandons its projects and they want to have a clean name for their product, which would help them to break Amgen, Inc. (NASDAQ:AMGN)‘s monopoly in the specific therapeutic area of treating anemia caused by chronic kidney disease (CKD). This was probably the reason for the quick voluntary recall initiated by Takeda in February this year. The good sign is that even though the drug caused some side effects, which led to 3 deaths from 25 thousand treated patients (0.2% of treated patients) might not be caused by the drug itself, but by the few dialysis centers that are believed to be owned by a single company, Fresenius Medical Care AG & Co. (ADR) (NYSE:FMS).[[tagnumber 2]] [[tagnumber 1]][[tagnumber 17]]It seems that Takeda are leading their business with a strong hand, however, nothing can be said for sure until any definitive news come from AFFY. Until then be sure to do your due diligence and weigh out all the risks for yourself.[[tagnumber 2]] [[tagnumber 1]]On the other hand we have a not so trustworthy company in the face of Petron Energy II[[tagnumber 20]](OTCBB:PEII), who have $380 in the bank, but the promotional campaign that they had led to a mind–blowing jump of 525% in price and they are currently being traded at $0.0750.[[tagnumber 2]]
