Replies to post #172266 on Elite Pharmaceuticals Inc (ELTP)

[LeftySeaTurtle]

IMO this is classic day trader shenanigans. A few guys with millions of shares walking the price down on low activity. If you haven't seen the patterns here you could end being sucked in to the nonsense. Buy the dips sell the tips. Nothing can be done until there are profits and this stock is off the pinks and on to nasdaq

[toofun]

Any buyout offer entertained by NS would probably be negotiated based on factors which, for the foreseeable future, would not even include the pps.

[ivorytowerboy]

Perhaps the naked shorts represent a major pharma that has a lot to lose if ELTP ever gets noticed by coming off the pink sheets. If I sell $6B in opiates a year, that's $500 million more I make for every month ELTP is off the main stage. If the naked shorts lose $10M a month, that's just chickenfeed compared to what could be made delaying ELI-200 for a month.

[GuTA]

It's that and a lack of buying pressure now that the traders have traded out.

One of the biggest issues here has always been volume and buying pressure.

I've got bids set just above .31 as well as just above .27. May take a couple weeks, but I'm betting they fill. The market is due for a pull back in the coming weeks as well.

The companies fundamentals (while in great shape) just won't push this stock higher yet. That's life on the OTC... Need the next major catalyst (approval) for the next run and then significant revenues post launch to sustain the next leg up.