Elite Pharmaceuticals Inc (ELTP)

[no2koolaid]

There is and has been a concerted effort to bring the p/s down on a continual basis. Even to a non-expert, the manner in which it has been done has been obvious - consistent 2500 shares for sale and 800k shares that float along the price line and disappear when challenged. Why would MMs stop when they can clearly play this game for as long as they can make money shorting? This will not stop until Elite files an NDA. Can we not agree that any other PR is only noise the MMs and their minions will argue has been baked into the price (and, notice how gap ups are arguments for the p/s to retreat, but the converse is not argued)? Someone will suggest the data disappoints and the novices holding shares will sell. If we remove manipulation as an explanation, how is it possible that the company has hit major strategic successes over the past months only to see the p/s be taken down?

Sure, it makes sense the price is down a third in less than a month. Really, all that has happened is the company met with the FDA, increased quarterly revenues, and, in a show of absolute faith in their progress (in no small part based on the strength of the work done by Camargo), moved toward increasing manufacturing capabilities consistent with the need to factor additional products into their supply chain.

I hope my disdain for the game being played is obvious.