There was a time when Elite Pharmaceuticals was about instilling confidence to her investors. Those days ended during CEO Nasrat Hakim's tenure. One failure after another, and as many who understand how the market works, particularly how pharmaceutical companies operate - many of these failures were for the benefit of one man, Nasrat Hakim. The stock, and stockholders have been forsaken in the worst way imaginable. And yet many still hold out in hopes this dang thing will turn around. It's easy to think of it as one impossibly selfish, greedhog with no interest in following through with the "dollar land!" promises he made years ago, but maybe it's not so simple.
Nah. This guy sucks. Is he some Ayan Rand philosopher or is he even more pathetic than even a song could encapsulate?
MIKAH, which is of course the dude's mirrored image of a asshole should have been the first clue, but now shit's gotten real. Real bad.
But things at this level can (and have in the past) changed on a dime. Considering the economic conditions, the Feds buying debt through one door, selling it off through another, it's no wonder we are seeing what we are seeing. Companies like ELTP are in a world of trouble irregardless of how much cash they sock away. This doesn't let YOU off the hook, Rat. If you're gonna fulfill your promises that boat may have sailed and so should your tenure with Elite. The worst fear amongst investors here is that you take this shit private and totally ram a pole where the sun has no chance of glowing. That said, based upon prior performance, if you were able to average down, hold that junk. If you are averaged in over .24 cents, I'd say you have a right to be fired up and pissed. I don't like to see so much downtrend on a stock I traditionally had so much confidence in thanks to upbeat, seemingly meaningful quarterly report calls. That confidence has waned and I'm barely a "hold."
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