mm's are acting to stabilize price -- be grateful it isn't falling faster
there is just a surplus of sellers after earnings because the 4th qtr revenues dropped from last year's qtr even after all adjustments were factored in, and they dropped even worse from this year's 3rd qtr at a time when this board was near unanimous in predicting a doubling, tripling, or even more
plus, the cc simply confirmed that the abuse resistant drugs are still on schedule but not accelerated, that Hakim is still open to partnership same as he has been since arrival and that, as everybody already knew, the LPC deal is providing adequate funding for now
all in all, it looks like the mm's are doing what they are supposed to do at a time when a lot of those looking to make a quick percentage pop on this penny stock, in part because of all the non-stop hype on this board, are now anxious to get out
It was a beautiful CC and judging by the amount of buying today, people recognize it. It is nefarious shorts that drove the price down. But what they didn't get is panic selling. Now the short covering begins.
We have just over 5 weeks till the next CC. In the meantime, there is the possibility we get news.
Eli-201 may begin BE studies. Eli202 trial results might get released.
If the stock isn't going to tank, then there is no point being short. Dangerous. We could very well have a green week next week.