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Friday, August 25, 2023 3:24:44 PM
Will the company get acquired? Absolutely. Are any of the signs listed in the article pointing to a near-term acquisition? Absolutely not.
1. Management stops defending stock price. When has Elite ever defended the stock price? Mgmt says it is low, but there is no existant investor relations team other than Dianne collecting questions for call. That’s it.
2. Social media posts are bearish. Elite has no social media coverage. So this doesn’t apply.
3. Wild fluctuations in share price. Elite finally had a good call, maybe even 2 in a row. It’s driving some decent volume after many years without a pulse. Not a sign of an acquisition here, but rather that it’s not completely dead.
4. Large amount of phantom premiums - OTC is Wild West. So I’ll align with this, but only because regulations are much looser for OTC, but again not a sign of acquisition, it’s the norm.
5. Sneaky options trade: N/A for Elite
6. Sell this/buy that on message boards - sure, everyone has an opinion and they all stink. Nothing new on a message board.
7. Bizarre price action before milestone. See point 3.
8. Resignations of high level managent. Elite can’t keep a CFO around, but I’m leaning towards conflict with the CEO more than anything.
9. Unloading of assets: N/A unless you count vigabatrin. But this is more around whether it aligns around what CEO wants Kirko to sell and this didn’t fit that wheelhouse. Not sure why this ANDA was pursued.
10. Stock has become disconnected from reality. Again, see point 3. Stock has been hammered for years due to massive amount of dilution, lack of anything of significant financial benefit, non-arms length deals with the CEO, etc.
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