Elite Pharmaceuticals Inc (ELTP)

[imanjen13]

Eventually, in order to be listed on Nasdaq, NH has indicated that he would consider a reverse split when the price and fundamentals are right. Considering the usual price disaster that occurs after most reverse splits, investors here should be wary.

That being said there is a stock I am following that just had a 1 for 200 reverse split. Progressive Care new symbol RXMDD. Stock was .03 presplit which was suddenly announced without any warning to shareholders. It still is not trading as brokers have not yet adjusted for the price change. After split value was $6. They are applying for Nasdaq listing but I expect it will take a few weeks. Good one to look at for possible comparison. I expect when approved for Nasdaq this should trade hopefully above $6 as the stock will be eligible for institutional investors. This is not a recommendation as I know nothing about this company. Interest only as to a possible indication of what might happen when Elite reverses splits at end of this year or in early 2024. Lets hope stock is much higher and split number much lower then 1 for 200.