Grow up and learn how the market works, Magalodon. Shorts benefit the market, even for longs. I won't bother explaining, just be assured that your naive hatred of "cockroach shorts" betrays your lack of understanding. Educate yourself.
Doesn't matter. The price was $25, a bunch of people are holding shares at that price and will want to cash out with a profit if they think there's a chance of losing money by holding. That's it.
Shareholders who got in on the IPO will continue selling to take profits as it drifts closer to their buy-in price. Nobody wants to lose money on an IPO allocation, therefore the pressure to take profits will build as the price drifts lower, further driving the price down, until we get close to $25. At that point the selling pressure will ease since anyone who wanted out with gains will have sold by then and anyone left holding will probably stick it out. Looking for $27-$29.
Coverered my QQQ short for a small profit yesterday. Should have covered a few days ago, would have made some good money, but I thought there'd be more downside.
I tried to jump back into CMCM near the close yesterday at 19.15 but it didn't fill. Tried chasing it this morning below 20 but couldn't catch it. Such are the risks of jumping in-and-out of a stock -- sometimes you're out when you want to be in -- though it's never bad to lock in quick profits and I'm still ahead of the game even with the miss this morning.
Heard you the first time - you don't like RESN management nor MDB - we get it. Continuing to whine about it is useless and irritating. Why are you even here?
Out at 21.05, don't trust the market here. Taking profits and watching from the sidelines for now. May even short QQQ this morning. Good luck, all.
Hi HC. I'm not concerned about the low volume at the moment. The fact that it moved so much on relatively low volume just indicates a limited supply of shares available for sale between 19 and 21, so it didn't take much buying to move quickly up the price ladder. And really, the volume wasn't terribly low, so it was a legit day in my book. When we do have a high volume up day I'll probably take some profits off the table shortly thereafter, as that's often a sign to me that too many people have caught on and it's time to let things cool off a bit, and see what develops. Good luck.
Nice follow through today, closing right at resistance at $21. A good push through that will set the stage for new highs. Hang tight.
...nobody's here? Helloooo.....
Figured it would retrace to 18-ish after the run up last month. Bought back in at 18.5 this morning, was a little nervous that I'd jumped in too quickly with the NASDAQ tanking. I never guessed the market would recover and CMCM would take off this afternoon like that. The last-minute retreat was a mild bummer, but I think we'll see more upside from here tomorrow. Good luck, all.
It didn't "fail so bad" and it wasn't a "disaster". Nice try, though. Here's the explanation for why it didn't perform as well as expected (from SeekingAlpha's IPO Preview of AGRX):
"...Many contraceptive trials have enrolled a high proportion of subjects who immediately switched from other hormonal contraceptives, referred to as current users.
For example, the subject population for the primary contraceptive efficacy clinical trial for the product Yaz® consisted of 60% current users and for the North American clinical trial for the product Natazia® consisted of 59% current users.
However, only 17.8% of subjects in AGRX's larger Phase 3 trial randomized to receive Twirla were current users, and therefore, AGRX had a higher than usual proportion of new users of contraception.
Notably, there was a higher incidence of noncompliance in new users as compared to experienced users.
In AGRX's Phase 3 studies, noncompliance, as verified by nondetectable serum levels of LNG and EE in a subject, was approximately three times as high in new users as compared to experienced users in both the Twirla and oral contraceptive arms of the study.
Higher rates of noncompliance in contraceptive studies often correlate with a higher contraceptive failure rate."
So basically it the population of patients in the Twirla phase 3 trial contained a much higher percentage of new users of contraceptives than normal. Inexperienced users are known to have problems using contraceptives and have a significantly higher failure rate regardless of which method/product they use. This negatively skewed the Twirla results compared to the competition, whose trials had a much lower new-user population.
I thought Affymax would be huge. And after a long struggle it seemed like it would be. Now it's gone. What an amazing, ultimately tragic arc this company has been on. It's been interesting to watch and sometimes participate. Good luck to all, wherever you go in investing and in life.