Affymax, Inc. (OTCMKTS:AFFY) Rising in The Midst of a “Review War”
If you have followed our articles on Affymax, Inc. (OTCMKTS:AFFY) you would know that they are having trouble with their drug OMONTYS, that was voluntarily withdrawn from the market after several fatalities of patients treated with it.
Recently, however, things have heated up and there is an ongoing “war” sparked by two opposing opinions. It is led on the battlefield of Seeking Alpha and the accusations of false information from both sides are flying around.
Even though the stock of AFFY wasn’t moving much, the reviews are making it sway in both directions. After two days in the red due to the pessimistic review-articles posted on Seeking Alpha, the stock regained some of its value in yesterday’s session after EXPstocktrader confronted Alpha Exposure on his research with a new article touting the stock of AFFY and the possible quick return of OMONTYS.
Later in the day Alpha Exposure wrote another review and a fierce battle commenced in the comments section. That, combined with the morning dumping of shares, however, wasn’t enough to stop the stock from rising.
Just minutes after market open the stock jumped up and continued to rise, reaching a peak of $1.76 per share at around noon. After things quieted down the stock slid slightly lower and managed to close the session at $1.71, gaining 9% in value.
Again, the amount of traded shares was higher than the company’s average. A total of 2.6 million shares had switched hands in the end of the day generating a healthy trade value that was estimated at $4.5 million.
With its movements relying on the “review war”, the stock of AFFY is a very risky one. That is at least until there are more definitive news of the ongoing investigation. If you have the idea of investing in AFFY‘s stock be sure to do a lot of due diligence and weigh out all the risks, because a any bad news from the company may completely obliterate the ticker.
Another medical company around which things have heated up recently is InVivo Therapeutics Holdings Corp. (OTCBB:NVIV), who lost 60% of their value following a change in leadership, followed by a correction of their business plan that extended it with 4-5 years.
Then we have Nuvilex, Inc. (OTCMKTS:NVLX), a medical stock that is attractive to people who are looking for a speculative stock with its inconsistent movements and low price.
