Well JJ, I'm hardly the one to ask per intra-day price, or even by the day, week etc. I'm no chartist, and at the mercy of the market like all. I would take it as a great sign if we ended up even, but does not look that way.
IMO, the key was in your question, though--"light volume." Simply, this move down is not meaningful. With 660mm o/s, there will always be supply, but demand? The whole stock market is tanking right now, and most predicting more doom and gloom. Longs on ELTP are pretty loaded up. To me, what's good to this point is were not at .21 as we were for 8 months prior to the P3 results. We got a 2mm filing break, formal NDA acceptance soon w/milestone, and approval decision within six months (IMO sooner) from that. It's just a matter of hanging on. Unlike the typical OTC company, were not "bagholders" here; the company is not on the verge of going belly-up.
This day to day stuff is amusing, unfortunately not so fun on downswings. But in perspective, the whole play is the ADT being approved. If anything, I've spend too much time watching it...gets addictive, lol. Even if the market does tank, people can live without the new iPhone, but not without their opioids. ELTP will thrive on approval and that is when the valuation gets separated from the noise. Until then, the lower it goes, the more tempted I am to buy into it.
Maz
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