Elite Pharmaceuticals, Inc. (OTCBB:ELTP) Makes A Brief Rebound

Yesterday Elite Pharmaceuticals, Inc. (OTCBB:ELTP) finally managed to turn the tide, adding 13.5% to its market value on a 605 thousand dollar volume.

True to fact, the rebound wasn’t enough to compensate for the sudden drop the ticker experienced in its latest sudden crash, but it gives ELTP enthusiasts some thing positive to hang on to.

As we’ve mentioned before, ELTP has a lot of positive things going for it – its financials are decent, it seems well managed and is already showing some promise. This being the case, it seems more than a bit odd that the ticker’s movements are as erratic as they currently are – one would expect for it to have stabilized by now, as investors patiently wait for further significant developments.

On the other hand, this is the OTC Markets we’re talking about, and patience seems to be in short supply among many investors on this particular exchange. Hype is more often than not the force behind jumps in market value, and unfortunately for investors looking for a rapid-fire action-packed thrill-ride, events in this particular branch of the pharmaceutical sector tend to unfold at a rather sluggish pace.

This is probably why ELTP is so unstable – more than a few investors are likely to be dissatisfied with the pace at which events are unfolding for the company.

On the bright side, the fact that ELTP is a solid company means that there will likely always be traders willing to stock up on cheapies once the price drops, thus helping it rebound. This is probably what we saw yesterday.

Unfortunately, this happy state of developments didn’t last long at all – ELTP has already lost 3% in early trading today.