Elite Pharmaceuticals Inc (ELTP)

[kayak_wench]

Really? Stock was at 4 cents or less for two full years and you don't understand why some people are selling in the teens. Lots and lots of people have bought shares for a quarter of what the share price is now (and a fifth of what it peaked at). Not all of those people are going to choose to sell zero shares. Some will start to freak out now that the share price is taking a breather and people stir up fear to encourage them to sell. Others will decide to take a little off just to take a bit off the table. Then there are the MMs that just keep shares moving between one another to try to maximize their profit.

What is much more shocking is just how few shares are being sold at the lows of the day and how well the price has held. We are now within the two window of the Q2 results. Anyone selling now that doesn't desperately need the money is dumb. Happily, odds are high that we get news Monday or Tuesday and anyone getting nervous can be reassured when that news hits. Particularly if the news is the filing of the ANDA with the multi-billion dollar market.