Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Uh, no.

Here is so real good news for Elite...

https://abcnews.go.com/Business/story?id=8186474&page=1

Glad I’m not short... hahaha

I'm not one who goes around shouting "Fake news!" as often as some, but then again, I've never paid off any porn stars or colluded with any Russians. In this case, though, we actually do have fake news, or at least, some really, really old news. (Never trust a news article without a date on it.) This article on SEC rules about naked shorting was originally published by AP wire service in 2009. (Hint #1: "an emergency rule aimed at reducing abusive short-selling, put in at the height of last fall's market turmoil").


These rules against naked short selling were made "permanent" nearly 10 years ago when this article was originally published. Also, nobody is shorting ELTP.





https://www.cnbc.com/id/32174786

SEC Rule on 'Naked' Short-Selling Now Permanent
Associated Press
Published 3:15 PM ET Mon, 27 July 2009 Updated 12:11 PM ET Tue, 3 Aug 2010


Federal regulators on Monday made permanent an emergency rule aimed at reducing abusive short-selling, put in at the height of last fall's market turmoil.

The Securities and Exchange Commission announced that it took the action on the rule targeting so-called "naked" short-selling, which was due to expire Friday.