Elite Pharmaceuticals Inc (ELTP): "If ELTP is such a great and wonderful s...

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Re: richme post# 17427

Wednesday, 05/23/2012 6:43:25 PM

Wednesday, May 23, 2012 6:43:25 PM

"If ELTP is such a great and wonderful stock to own why is our own hedge fund dumping or do you think may be dumping?"

I shared my thoughts in another post that you may have read by now. I don't know the history of why the hedge fund wanted control of ELTP, but hedge funds normally do not deal in penny stocks. They also tend to not be long-term investors. Once they saw they couldn't get control I think they just wanted out, but when they tanked the price, I think they decided to wait for higher prices and are selling into high volume strength following announcements.

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