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Affymax, Inc. (AFFY) Message Board

jim_ghorbanian 4 posts  |  Last Activity: Mar 12, 2015 2:39 PM Member since: Jan 6, 2013
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  • jim_ghorbanian jim_ghorbanian Mar 12, 2015 2:39 PM Flag

    I also spoke with Lee, the IR Director. Enjoyed talking to him as he was very reassuring about the future as well as the prospector financing or revolver. Was not concerned about Remex at all. Seemed concerned about short-sellers pushing the price down and was very vocal calling the recent down turn in share prices completely manipulated and totally unjustified. Spent nearly 10 minutes or so with him on the phone.

    I came away from the phone call feeling much better about fundamentals and prospects although shares are down again.

  • jim_ghorbanian jim_ghorbanian Jan 22, 2015 6:04 PM Flag

    If you read the fine print you notice that most of their "asset" number is goodwill which is practically been reduced to nil right now. Their cash was just a little more than their recent loses so they were left with basically no money and a whole company to run and employees to pay. Why the heck do you think TWO analysts yesterday have a price targets of 0.75 and 1.50?
    Also remember the loses mentioned by the company is what is cost the company out of pocket already and does not include millions lost out of their customers pockets hence the forthcoming multiple lawsuits that could add up to hundreds of million more.
    They would have been better of just shutting their door but they holding on to their survival hopes while not disclosing the estimates on customers out of pocket losses.

  • jim_ghorbanian jim_ghorbanian Jan 22, 2015 5:32 PM Flag

    So sorry but that is exactly what the company said yesterday that they don't expect to recoup any of the lost monies; To verify please read the yahoo news for FXCM from yesterday under the heading to increasing margin requirements. And that is exactly why they basically gave away to company to severe detriment of shareholders; otherwise their only remaining choice was BK.

  • jim_ghorbanian jim_ghorbanian Jan 22, 2015 4:24 PM Flag

    I also saw both of those price targets but to my amazement the price close at over 3 today which is twice the $1.50 and 4 times the $0.75 analysts price targets (both these reports came out yesterday; Google to see the full reports).
    I believe the price jump is mostly short covering and partly manipulation and over and over buying and selling by the same crowed. I think people may have also misinterpreted the press release by the company about raising the trading capital requirements. Sure it may protect the company a bit more against future Swiss like events but heck they will still lose money in such events; Also, raising the capital requirement means less clients (much less if the requirements are elevated a lot). But also folks may have not noticed that in the same press release company admitted that they don't expect to recoup ANY of millions in monies
    lost by clients.

    Bottomline: stock may be cut in half in short order and may be even more from the current price.

AFFY
0.1114+0.0004(+0.36%)Mar 27 3:50 PMEDT