Elite Pharmaceuticals Inc (ELTP)

[conix]

Here are the trades. Someone sold 130,000 shares plus at the open--first 13 seconds of trading.

No bids of any size were out there, so the market maker dropped the ask so HE got the price to fill the trade and then the cheap price attracted bids to make it a real market again.

Sad to say, but it happens in OTC land.

TIME AND SALES FOR ELTP

Time Price Volume Exchange
09:43:38 0.079 10000 OBB
09:42:44 0.076 5000 OBB
09:35:50 0.0762 5000 OBB
09:34:28 0.0762 5000 OBB
09:33:13 0.0762 5000 OBB
09:31:01 0.0775 19900 OBB
09:30:57 0.0776 14000 OBB
09:30:47 0.0776 15000 OBB
09:30:45 0.0777 75000 OBB
09:30:34 0.079 25050 OBB
09:30:13 0.065 5000 OBB
09:30:12 0.06 25000 OBB
09:30:08 0.06 78000 OBB
09:30:06 0.065 1266 OBB
09:30:03 0.065 2000 OBB