Jour, why do think a profitable CFP company like Elite trades at $0.03/share.
You and others do not see the liquidation occurring in this bear market across a wide range of different stocks~? This isn't just Elite being suppressed. It is many stocks being beaten and held down.
Granted, "they" underestimated Elite's resilience and ability to turn the business around to a profitable one.
There is nothing NH can do about the share price. All he can do is wait this muck out.
Meanwhile, grow the business with his expertise as a guide.
Things he cannot control are COVID, the flu, RSV, the supply chain, API from overseas, and BE studies conducted overseas where some were delayed months,
Things he has controlled very well are compliance issues within the company and the manufacturing facility. No observations or 483s. Filings are timely with no late filing observations.
Stock price is out of NH's hands. The question many investors should be asking is who is attacking this stock and why. Are they attacking it with exempt shares from the DTCC CNS program. If so, why~? To make money would be my first answer.
Stock price is market made not company made. March 7th or about that time is the next derivatives collateral cover time point for expiring ISDA derivatives contracts.
Then 3 months after that time point will be another cover point.
Meanwhile, buckle up. It is going to get mighty rough as liquidation continues. Not to fear though. Let's say retail investors are losing about $38 billion per day in the stock market alone, The other side, banks, home offices, hedge funds are losing about $645 billion per day. 16 times more than us. How long can they keep getting slammed like this~? Our losses are on paper. Their losses are possible capitulation of banks, family offices. Hedge funds are small potatoes at this point.
This is not because Elite resides in the OTC either. Most stocks are getting hit in this liquidation phase.
$ELTP baby~!
Bullish
