Mike/ And ALl still haven't heard anything from AFFI CEO but when
and if I do I will post it.
Affinity Tech Up 26%; Traders Cite Value Buying
By Eric Weiner
NEW YORK (Dow Jones)--Affinity Technology Group Inc.'s (AFFI) stock was up as much as
35% earlier as a few investors decided to buy the shares ''as a value play'' just after the market
opened, traders speculated.
The Columbia, S.C., company's stock was trading recently at 8 5/8, up 1 3/4, or 25.5%, from its
close yesterday of 6 7/8. Nasdaq volume was 390,300 compared with the stock's average daily
volume of 257,500.
Affinity Technology's stock price has ridden a roller coaster course since the summer.
After reaching a post-offering low of 6 in early August, Affinity shares started to rebound, trading
as high as 14 1/4 on Sept. 16. Since then, however, the price has swooned again, bottoming out at
6 1/4 on Monday.
Lately, volume also has been very thin, as fewer than 100,000 shares were traded in 12 of the last
13 trading days, excluding today's activity.
Traders said several buyers entered the market at the start of trading and began buying up shares
based on the stock's relative value.
''A few of my competitors were taking the stock aggressively early this morning, and it looks like
they bought it all at once,'' said one trader based in New York. ''I guess they were thinking that if it
had been as high as 13, now could be a good time to start buying again.''
Affinity spokeswoman Paige Muh said the company has not announced any developments that
could account for the stock's movement, and, as far as she knew, no analysts had issued new
opinions on the company. Muh said Affinity, which makes automated loan machines for banks, has
no plans to release any news on corporate developments in the near future.
''We like it,'' she said, referring to the movement in Affinity's stock. ''We just can't explain it.''
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