God I hope not. This is excruciating! Sweating out the Oct. expiration was bad enough hopefully there is some resolution one way or the other fairly soon. After all it has been 8 months would be good to know something about where there are at. Will be interesting if there is any change in the language in the next filing for the "earnings" report on Nov. 4. For instance is BK still an option or maybe not. Even little things like that could make a small difference to the overall outlook. Though it may be a little like parsing the Fed statement every time it comes out, you can conceivably spin it whatever way you will and at a certain point it all becomes ludicrous.
I think the report is as of the 15th of the month so a few days before the end of expiration. Maybe now that the hedge is gone there will be more of a sense of urgency, though the prior 2 months saw the percentage drop by 15%, so they may have been a covering somewhat earlier. What I have noticed the last few weeks is throwing up big bids when we head towards 1.10 then throwing up big asks when we head towards 1.20 to put pressure on the price so either people can cover or accumulate. Yesterday 40% of the volume came in the last 25 minutes all to the upside. See if they say anything Nov. 4 or not.
Because of the time difference the earnings call, live that is, might be in the middle of the night U.S. time. Though I understand what you are saying. I have been reading posts lately on QCOR because of the fight between EXPtrader/Maxdad and some posters who accuse them of pumping and dumping AFFY. I believe the thesis of the posters is wrong in that regard. The drop has more to do with the negative articles posted the last few weeks on SA seemingly to drive down the price.
I agree completely. 4 negative articles in a month and half on SA helped them out as well. Constant bashing on the YMB, but the fact that short interest has fallen so precipitously in the last few months belies what is really going on. Now time has become the enemy for them as the investigation goes on to 8 months without the BK that they said would come. Nary a peep out of the devastating lawsuits that would be ruinous as well, because they also need to find out the result of the investigation before they have a chance of proceeding.
Just happened to notice it on an intraday chart. The volume on the trade was to the upside, so maybe a big buyer or someone covering their short either way was interesting considering how anemic volume has been lately.
Good point. There is no way they would continue to advise doctors to continue using the drug on existing patients if they thought the drug was responsible for the entirety of the problems encountered. Certainly not without consulting their attorneys as well. There is a big difference between some severe but infrequent reactions and the drug is a potential killer.
Tom you raise some interesting points. I have always wondered why this letter was not more forthright in terms of laying out what exactly happened at the clinics. There are mention of severe reactions in minimal circumstances but otherwise overall well received by the vast majority of the cases. Before this came out I had taken my position down from 8,500 shares to 1,500. When I saw the market wack the stock on heavy volume and then start to rally back I added 2,000 shares, because the text of this letter did not sound that bad simply a pause while they analyzed the data. So the supposition is at this point were they worried that there was another cause at the clinic besides the drug itself? Especially since it was well tolerated by 99.98% of the patient population? I also find it interesting at this point, 8 months later, I have not heard from any law firms. I almost always get some notification if there is pending litigation as they try to sign up as many plaintiffs as possible. I am bombarded with them for any number of companies I have owned in the last few years that have dropped in price for various reasons. I lost $100k on this with the withdrawal, and yet no one has contacted me which I find odd. The law firms are as unsure about this it seems as are the people involved in the investigation. Again the shorts seems to be voting with their feet as they are covering rather quickly, despite what others who are short on this board would have you believe. Hopefully we will get some clarity before the end of the year but who knows.
Seeking Alpha had AE post 4 negative articles in the space of a little over 6 weeks which countered the 2 articles EXPtrader posted in the last several months. That is why the stock was pressured in the near term. They are trying to force it down to a level where the majority can cover their position, hence the last 2 months a decrease of 15% in the short position. If BK is imminent or there is absolutely no chance of O coming back why would they cover their position? The tax implications for a short in BK are much less than having to cover without BK. Let the stock trade to 0 and you don't have to cover. So why are they? They are not answering that question so far, which is why I am holding and adding in the low 1's.
Yahoo does not update any information as it relates to AFFY. If you look at key statistics the last time it was updated was before the stock was delisted
Jim I don't believe his bosses let him vary much from his script. If i had a dollar for every time he mentioned the pearl study in a post I might be close to even for what I lost on AFFY when they pulled it off the market in February. He conveniently does not mention the article in the New England Journal of Medicine in which it states the safety and efficacy was no different than Epo and other drugs on the market. In fact if I recall correctly O had a lower incidence of cardiovascular events in comparison to EPO, by about 2.2%. Also the fact that it was designated for full reimbursement by Medicare either late last year or early this year. These groups looked at the data and determined the product was as good as other products on the market. When WBB downgraded and discontinued coverage of affymax they state in the report, "In the firms opinion, AFFY is a company with a good product, which was plagued with unfortunate circumstances." GWP et al conveniently neglect to mention any of these things in their nonstop bashing. Why is so much effort go into a stock down 97% trying to drive it down further? No one on the short side has answered that question as of yet with any credibility.
Alpha Fraud and GWP threw a party and nobody came?? Fourth hit piece in a month and a half, day later net loss of a penny from 2 days ago. I believe the market is speaking and the shorts are going to be forced to cover even faster than they have been the last few months.