Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Um, yes, that was a joke.

Who are the "MMs" going to find to sell 60 million ELTP shares between $0.225 - $0.215 ????


"Hedge Fund: Yes, this is what our extensive DD on the ihub MB tells us."

Is that a joke? Hedge Funds do their "DD" on a message board ??


Yeah ok,


IB_

For review, the question is why would an MM support the bid instead of letting the price drop lower where they could make more money, an apparent irrational act. The answer was that the MM's always act rationally and in their own best interests, and in performing their typical role of filling an order it only appears they are "supporting the bid". In this example, the order was from a Micro-Cap Hedge Fund who wanted to buy shares as cheaply as possible but not so cheap that their current ELTP holdings dropped low enough to panic the hedge fund investors. Therefore, the MM's are imposing a range on the share price, not letting it above .23 or below .21, all the while chomping up the float to fill a large order.

Who are the "MMs" going to find to sell 60 million ELTP shares between $0.225 - $0.215 ????

The title of the post: MM "bid support" = Hedge Fund Buyer