Market Signal

The July 19 money-loop desk call on ELAN hit its written invalidation: the stock closed $22.12 on 2026-08-07, under the $23.68 trigger, after an -8.6% single-day drop on its Aug 5 earnings print — a print for which no results coverage exists in the corpus. The call is invalidated on its own terms; the animal-health demand thesis question stays open pending the missing Q2 read.