I actually did make a good amount of money with AFFY riding it from $14 and $16 (two purchases) and selling them out at $24 and $21 and change.
Then I made about 40% with BAC shares, followed by 55% in AUDC.
I'm making coin my friend, I'm not bottom feeding on penny junk stocks.
I'm not exactly saying this is a bad thing by any means (I'm long-term bullish on AUDC). I think it's great that Shabthi beats to his own drum, making moves that he thinks are critical going forward.
He clearly saved the company from disaster around 12-18 months ago when nothing looked positive. Give the man some credit here, this stock is up from about $1.50 to around $7.50 (peak price). The guys strategy is working, it was was undervalued, now becoming more realistically valued, it will take some serious work to make it go from $6 to $30 (same percentage change from $1.50 to $7.50), but you never know.
Let the man and his best man Guy do their thing.
Shabthi owns more shares of AUDC than the BOD combined, you really think the BOD is going to decide against Shabthi? Sure, the BOD job is technically to ensure the employees (CEO included), strategies and overall business is progressing...Last time you checked, do you think the BOD of Amazon has much control over Jeff Bezos and what he decides to do? None whatsoever my friend.
After reading bits and pieces of the FDA report, it blows my mind how Omontys was honestly ever approved in the first place. This chemical compound causes a slew of health issues, which as many of you already know and responsible for 23 deaths (and more due to potential reverse biopsies of previously sick or deceased folks).
This company is a sad company but that's what happens with wildcatting on biotech investments. Easy come. Easy go.
Sentiment: Strong Sell
Unloaded half at $24 and charge and unloaded the remainder at $21.
Luckily I enjoyed the nice run-up from $16.
This company is going to zero, there's almost 30/deaths (per FDA), Affymax is done.
Sentiment: Strong Sell
I played this stock at $14 and change, bailed out around $16, never looked back.
Sorry for your loss. Hopefully it was play money that you could lose.
Interesting theory but in actuality, while your post may have some truth (in which we may never know).
In reality, if your looked at the broader market the past two days, the YTD's biggest gainers were pretty much taken to the woodshed and beat. The biotech sector also got heavily whacked, so in essence it was a double-whammy on momentum plays and biotechs. Sometimes we split, sometimes we rally on both and this unfortunate time, we lost hard on both.
Everything biotech and momentum simply got whacked (XOMA, PCYC, ARIA (plus their bad news), PBYI, ZNGA, AUDC, the list numbers about 150-200 companies that were taken for a 10-20% drop.
Tesla, Netflix, etc.
Purely profit taking and the fear factor here. I would highly doubt Lazard being manipulative. While they do have the right to play both hands, sell the offer out and be bullish, getting caught purposely manipulating which results in monster SEC fines and securities fraud.
Still look crazy now?
You just lost 20% since this post 8/days ago. How's it feel?
Still laughing at my trade?...Didn't think so.
This is purely profit-taking and nothing to do with fundamentals.
If this dropped 10-15% with 2-3m shares traded, then that might be cause for alarm.
We're down 9% with just over 400k traded. Not a bad thing really. Should bounce back once Washington stuff settles down. Unfortunately it's going to get worse before it gets better (debt ceiling games coming up fast).
Wall street bulls are still the majority, however I think the best scenario would be holding cash until mid-November, early December, then catch the Santa Claus rally. This fall season stocks are going to be very volatile.
NASD is getting owned, all momentum stocks are crashing down (MKND, XOMA, ZNGA, AUDC, NVAX, SONS, etc).
No survivors except JCP and a few other smaller comps that I follow (and I follow about 100 companies).
The block was a share sale, so why would it move higher because of such a large sale?
I'm long NVAX but your confused here.
If the acne trial works I agree, until then, its sideway trading to downward trading.
I'm not short (never was), I took a long position to hold short term to make quick money and this was relatively fast.
The trend is your friend and it's lifetime chart looks full of disappointments.
Want me to text it to you? It's only 8k shares. It's not like I had 80k shares to play with.
Just sold 8000 at 5.13, this stock price is not going to hold, the RSI just wildly spiked.
I'll buy again at 4.50 for another 12-15% gain.