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Those short reports for OTC's are known to be completely made up.
There is no shorting of penny stocks done by retail and the "MM's" don't do it either.
News doesn't move penny stocks. Volume, hype and pump and dumps do.
Common myth is that market makers are behind moves like that. Truth be told all that happened was someone wanted to sell 500k shares at a limit order of .05 and that's what happened. Nothing shady.
Yeah sure.
Carter ain't worth 450k.
Obviously they are going to be able to pay him more. He went to a developmental stage company that's burning through money.
I'd suggest getting out then if this is investment shattering for you.
What if I told you some of the worlds smartest didn't even graduate from college.
Mind blown!
Guess you're gonna miss out.
Why would he sell so low? If he was going to do that it would've been done years ago when Sequestox failed.
And YES we're still in the same boat. Some guy with 1 share is in the same boat as me with millions of shares, just less on the line.
First off, his shares are common shares just as ours are. So whatever happens to his shares happens to ours.
Second, if you had his share count and knew you couldn't sell on the open market, what would you do? Personally, I would either look to eventually sell the company or merge with another company where eventually I could cash out over time on a larger exchange. IMO the first scenario seems far easier.
No guys. You see, Carter was supposed to work at Elite until the day he drops dead. You don't realize that? Anything less and that means bad news for Elite.
Never mind the fact that the notion that Carter was a bad CFO has been posted 100 times on here the past 5 years yet now that he's gone we're supposed to miss him? lol.
Solid support.
Nope, not him.
Pretty sure I know the person who's selling the 100k + blocks on the ask.
Actually, we all do.
I only bought 95k today.
Sellers all dried up, nothing available today. Something I heard about low .05's being the low end of the trading range ;)
Guess it depends on what someone's average is. I've timed my buys (and sells) pretty well in ELTP over the years, especially during 2014 and I know a bargain when I see one.
Not buying when a stock is at the low end of a trading range is just scared money, plain and simple. (Assuming the investor/trader has available funds) Not all investors/traders are built the same.
Because .05's are a great price to me.
You've been around a long time, I remember.
The trading range for the past 2 1/2 years is low .05's to .09's so I have no problem buying now. I DO have a problem buying near the top of the range, which is why I don't buy up there. Until Elite can get out of this multi year rut with some ground breaking news, the stock will continue to stay in this range.
Best of luck to you (us).
I'm on the bid and buying another 400k tomorrow and Friday.
Not really. 1 billion shares outstanding and 700k traded. Very small players. Meaningless in the grand scheme.
I'm ready for anything at this point.
I was referring to the investing crowd in general JJ. ;)
I know what I have here.
You must be savvy enough in business to realize sometimes people are told to find another job and not publicly fired. Not saying this is the case here but could've been the case.
Also, Carter wasn't an astounding CFO. Personally I think we could do better. My guess is his new company will be paying him more $ as they can just tack on debt.
Rule #1: Keep emotion out of investing.
Rule #2: Refer to the first rule.
Or, you could look at it as you saved some $ if you have to sell even lower. Gotta be resilient and/or smart and know when to save what you have left.
Maybe use it as a learning experience and use stop losses. Can always buy back in.
Life's too short to be worried about an investment. Maybe sell and move on.
Hate to be the one to break it to you but we are a generic company now.
Hmmm were people saying that 2 years ago when the 10K was delayed 2 weeks and the stock plummeted? If Elite wants to move upward we need a stronger CFO. There are numerous of us (large shareholders, over 7 figures) that have been saying this for years.
With Carters mishaps in the past, I'd say this is for the better.
But AMA, Elite would've CERTAINLY made $100 million + from those products in the first 24 months you see. So it wouldn't have made a difference, right?
LOL
LOL, so Elite is slowly capturing Adderall market share but they would INSTANTLY start making $100 million off those products...is that what I'm hearing?
Products which AREN'T even being sold currently? LOL
Golden Cross imminent on the daily chart.
450k more for me tomorrow, if I can get the price I'm looking for.