Yeah, I don't think so. I'm not seeing the "reddit crazies" and the online frenzy you refer to. Definitely an uptick of $ELTP mentions online - but I've yet to see an organized and coordinated effort. Now, get us a trending thread on wallstreetbets and I'd agree with you - maybe for the first or second time ever.
More likely this increase in PPS is new investors who have done the due diligence, like what they see, and are trying to secure a nice size position to take into Q1 2024 and beyond. But as we're seeing on level II, it's happening chunks at a time. Inventory is a little scarce (which is making the deplorables sweat). If you want 2+MM shares at the current best available price... good luck. MM games are afoot.
That said, this is the healthiest movement I've seen in a long time. Nice legs up on big volume, taking breathers in the momentum to let the flippers flip and MMs scramble to cover - then continue the trend. Sideways movement is healthy and I expect to see that around this .10 level (.09-.11) - until the next breakout to .15.
This long-timer is quite happy. I haven't been this optimistic about ELTP's future since SequestOx.
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