Affymax, Inc. (OTCMKTS:AFFY)’s Crushed Momentum
The momentum of Affymax, Inc. (OTCMKTS:AFFY) was crushed in Friday’s trade session after they had 3 days in the green as their stock closed nearly 7% down at $1.10.
AFFY had a hard time after they were delisted from the NASDAQ and they experienced a long period of trading in the red. Their stock had negative movement in 6 consecutive trade sessions, but they managed to recover and go above the $1 mark.
Last week could have been considered a success for AFFY‘s stock had it not been Friday’s trading. It all seemed like they were doing good after their stock registered 3 trading sessions with upwards movement and a 27% increase in its price ending at $1.18 at market close in Thursday.
Friday’s trade session, however, didn’t go that well for AFFY as they slid nearly 7% in a negtative direction closing at $1.10. Even with the promising start their stock had at market open with the $1.20 that it was offered at, and the peak of $1.25 it seems that they just lost the momentum and drifted in a bad direction.
It’s not sure where the stock will go from here, but considering the lack of press releases our best guess is not encouraging. Their PR team still has a few hours to cook up some good stuff and lure more investors, but the truth is that since they were delisted from the NASDAQ there have been little events of significance. In fact, in the latest news we see in the headlines of Yahoo Finance about AFFY they are only mentioned in light of their delisting from the NASDAQ in a video for another company.
Be sure to do your due diligence before you decide to invest in AFFY. At the moment they are probably one of the riskiest tickers out there, because due to the lack of press releases and pumps they can move in any direction at any time.
Other recent developments in the OTC Markets indicate a comeback for InVivo Therapeutics Holdings Corp. (OTCBB:NVIV). We covered them recently and it seems that we were right when we presumed that they were setting a pump. They weren’t pumped for quite a while and you can see all the factors that indicated such an event in our latest article covering NVIV. In fact, the promotional campaign started yesterday after they went 3.63% up to close at $4 per share in Friday’s trade session.
Things for Eco Building Products, Inc. (OTCMKTS:ECOB), however, aren’t going that well. They haven’t had a trade session in the green for about a week now and they slid a further 6% down in Friday and ended the day at $0.023 with no indications of coming back.