Elite Pharmaceuticals Inc (ELTP)

[no2koolaid]

Actually, that is wrong. Sometimes one can glean insights from looking at similarly positioned OTC firms. So, relatedly, here is what was said that has relevance to Elite and the willingness to blame Nasrat...

XXX is owned mostly by retail investors, some who don't have level 2 trading platforms or don't always look at the ask volume when purchasing stock. Sometimes the spoof wall is set up just beyond the ask price so some potential investors and/or share holders looking to add to their position cannot see the wall. We've had some posters on this board who would constantly point out the ask wall and make statements such as "millions of shares available at this price, the stock price isn't going anywhere", "big puke of shares coming, millions sitting on level II ask", "warrant holders are dumping millions of shares", "longs are fed up and selling", "something smells", "management is incompetent, they must go" etc. The natural reaction to most retail investors would be why add shares at this price when the price is much more likely to drop than go up and some shareholders and swing traders may think to sell their shares and buy back in at a lower price. So IMHO spoofing doesn't necessarily need social media assistance, but that doesn't mean it's not a tool being used to help it be more effective.