Elite Pharmaceuticals, Inc. (OTCBB:ELTP) Continues To Rise
[[tagnumber 0]]The stock of Elite Pharmaceuticals, Inc. (OTCBB:ELTP) was barely moving in the end of last month and the beginning of this. However, things quickly changed after some promissing press releases from the company and the ticker is gathering momentum in an upward direction. [[tagnumber 1]]This week didn‘t start well as ELTP closed Monday‘s session in the red, however, the news that are coming in from the company have encouraged investors and the ticker is rising in price on increasing volumes.[[tagnumber 2]] [[tagnumber 1]]It seems that their business plan is going smoothly and they announced that they have even bigger ideas for the future. After all, as we wrote in our previous article about ELTP, we rarely see a medical company in the OTC Markets with any product, let alone.[[tagnumber 2]] [[tagnumber 1]]The positive news from the company helped ELTP jump another 19% in yesterday‘s trade session on more than 5 times their average volume with a total of 15 million traded share. The session started off and huge amounts of shares started flying around. The whole trade session was a trading fiasco.[[tagnumber 2]] [[tagnumber 1]]This, however, didn‘t manage to bring the price down and instead it steadily headed in an upward direction. The total trade value that was generated by the huge amount of traded shares, while the price was going from $0.13 to $0.155 was estimated at $2.3 million, the biggest in the past 6 months.[[tagnumber 2]] [[tagnumber 1]]For now there is no reason for the ticker to stop increasing its price, however, be sure to do a lot of due diligence, because ELTP have yet to prove that they can operate a profitable business and all hopes are that the new products that they have set their mind on producing will help them achieve that.[[tagnumber 2]] [[tagnumber 1]]Globalstar, Inc. (OTCMKTS:GSAT) is still reigning our list of stocks with highest trade value in yesterday‘s session with $6.88 million, while the ticker barely moved in price. On the other hand Affymax, Inc. (OTCMKTS:AFFY) is continuing to slide down the charts and we reckon that it will be hovering around the $1 mark soon.[[tagnumber 2]] [[tagnumber 1]][[tagnumber 14]][[tagnumber 2]]
