Affirmative Insurance Holdings, Inc. (OTCMKTS:AFFM) Continues To Go Up
The stock of Affirmative Insurance Holdings, Inc. (OTCMKTS:AFFM) has been ascending the charts since the beginning of the year, when it was traded below $0.250 per share. Things seem to be heating up as AFFM‘s stock has gained 170% since the beginning of the month and it’s showing no signs of slowing down.
It seems like after the company started slowly ascending the charts from the beginning of August their stock has been gathering more momentum in the past 2 weeks when they started having bigger and bigger percentile gains in price.
Last week was a great success, as not only did the value of the stock increase, but also the volumes in which it was traded, that went well above their average of 16 thousand shares in Friday’s session. In the last day of the week the company’s stock gained 14% in price and closed at $3.25 per share.
The total amount of shares that switched hands as the price went from $2.85 to $3.25 came at 109 thousand, a peak for the past 6 months. The amount of traded stock helped generate decent dollar volume making the total come out at $363 thousand.
With the lack of paid promotions for the company’s stock we reckon that the reason for the ascent was the optimistic Q2 report that AFFM filed with the SEC on August 14. Here are the numbers of prime interest contained in it, for your consideration.
- cash: $42 million
- total assets: $390 million
- total liabilities: $529 million
- total revenues: $72 million
- net income: $1.48 million
The company was listed in the NASDAQ, so you shouldn’t be surprised by their financials. The delisting took place on May 31, 2012, but we failed to find the exact reason for the suspension.
In any case be sure to do a lot of due diligence if you decide to make a play with AFFM. After all it’s not one of the cheapest stocks in the OTC Markets and it may head in any direction.
Another stock that was delisted from the NASDAQ is that of Affymax, Inc. (OTCMKTS:AFFY), who were traded at above $20 per share before the suspension. They registered a decent trade session in the end of last week after moving in a seemingly straight line with a gain of 7.50%, closing the week at $1.72.
Things aren’t going that well for another pharmaceutical company in the face of InVivo Therapeutics Holdings Corp (OTCBB:NVIV), who fell hard in Friday’s session losing 27% in value on a volume that was high above their average of 614 thousand shares. The total amount of traded shares in the end of the day came at 3 million and helped generate a trade value of $10.1 million.
