Meta Materials Inc (MMAT)

[TenKay]

“MMTLP will be rolled over into the private nextbridge stock, however long that takes“

I think that happens tomorrow.

[wormdirt]

You can still trade the common shares (MMAT) but not MMTLP. Per the S1 filing, MMTLP will be rolled over into the private nextbridge stock, however long that takes. It was put under U3 halt by Finra as that proceeds.

[hawkshaw812]

So you can't sale mmtlp or mmat

[trader59]

Oh, yeah, anytime you see the word "squeeze" on an OTC stock, it is a mirage used by the pumpers to flip stock. Most of the time they'll use the short volume number (which is meaningless) for this lie, ignoring the only factual short interest data from FINRA. In this case, they have that carefully cropped screenshot from CNBC that shows MMAT's O/S under the name "Meta Materials." It's all BS, this frenzy they're whipping up is all BS, folks are now officially stuck with the positions they had a few days ago, and the best they can do is report the pumpers/youtubers who promoted with false information.
Next Bridge is absolutely worthless. If it had value, the company would have sold it or developed it rather than launch it off with private stock. Even if the land is really worth the $45M they claim, that's less than 30 cents per share.

[wormdirt]

That's what I was trying to figure out - where the you tube pumpers were getting this massive short figure. It didn't add up. Anyway, I smelled the bull hockey and exited my position about two weeks ago. Much better than holding for NBH. I would be surprised if it isn't sub penny.
I agree that the litigation is a joke. Those people would have a MUCH better case going after the you tube clown shows. Of course, if you take investing advice from someone in an animal costume then you probably deserve what comes with it.

[exwannabe]

In addition, anybody selling a share of MMLPA on the 19th would be committing a fraud as they knowingly could not deliver on the settlement date on the 22nd as the shares would have been deleted.

There was no way any MM would participate in that.

I suspect there are 2 camps in the complaining groups. Those that knew full well what would happen but though they could create a pump and possible have a chance to shell the dead paper on the 19th. And those that just believe all this crap.

The latter is probably the vocal crowd now, with the former vanishing.

[trader59]

Yeah, and it's like I said, all of them just wanted to be able to sell their stock to others over the last 2 trading days, stock that would have been completely worthless. It's a good thing FINRA stepped in.
I'm looking right at the filing for the injunction, it references "Meta Materials" has 361M shares out per CNBC. Thing is that's MMAT, the common stock, not MMTLP (165M shares) the preferred stock, and they're using it to push the narrative (lie) there's 200M naked shorts out there that would obviously pay $1000 per share to cover. Short interest was 4.7M shares per FINRA, and those would have very easily covered when the con artist pumpers were dumping their stock.
What a load of crap.

[TenKay]

There are a lot of delusional people on Twitter…

[trader59]

When I see the term "naked shorts" in a legal document, PR, etc., I immediately know the author is full of it.
They're also banking on some CNBC statistic that is VERY OBVIOUSLY about MMAT (not MMTLP) showing 361M shares out.
Shameless con artists, common criminals, now whipping up their marks into a frenzy. Maybe eventually those marks will figure out who really screwed them over.

[StayHumble]

WOW Just look @ that 3 Month Chart! BOOM!

[TenKay]

MMTLP only.

[TenKay]

“only ones hurt by finra actions are shareholders.”

I have asked this many times and nobody seems to know the answer.

How exactly were shareholders hurt by FINRA’s halt?

It does not affect, in any way, the swap for NB stock.

[TenKay]

Someone did file for an injunction…but it won’t be successful and is too late.

The entire problem will be that nobody is going to be able to demonstrate a harm by the Halt.

And FINRA will only have to show the followed their process and that will be it.

That person just wasted a bunch of money on that filing.

[Grandmasim]

It's unreal.

[MACH1351CJ]

I'm confused. Is it only MMTLP that will be untradeable, or is it both MMTLP and MMAT?

[TenKay]

FINRA has been dealing with the “naked shorty” nonsense from the “less than informed” penny stock types for years.

This will get an eye roll and they will move on.

Nobody has still answered the question as to who was harmed by FINRA’s halt???

I can tell you who was protected from harm…anyone who fell for the short squeeze nonsense and might have bought an absolutely worthless security on Dec 9th. lol.

[hawkshaw812]

Yes it is maybe we should let it die here

[TenKay]

The amount of ignorance on Twitter about what happened with MMTLP and what is happening is astounding.

[tw0122]

MMAT in at 1.33 could be nice pump

[tw0122]

Metamaterial News@ MMATNEWS BREAKING NEWS?? John Brda will be LIVE on Fox Business News with Charles Payne at 2PM EST

@johnbrda

@cvpayne
$MMTLP #FinraFraud
@FINRA

@FoxBusiness
12:45 PM · Dec 12, 2022

[TenKay]

And FINRA got in the way by doing their job.

Nice to see once in awhile.

[trader59]

One thing is very clear from the chatter on social media. Everybody wanted to dump their stock onto someone else.

[StayHumble]

Exacty! From .63- $2.25?! SQUUEEZE.

Shareholders made BANK. Not sure who had to COVER but BOOM!

[TenKay]

How were shareholders hurt precisely? Everyone who bought the stock before the halt is going to be getting the new stock EXACTLY as the company disclosed it was going to do.

[TenKay]

Lol…and what’s that going to do?

[tw0122]

$MMTLP Trading HALT and Nefarious acts
7,503 have signed. Let’s get to 10,000!

https://www.change.org/p/mmtlp-trading-halt-and-nefarious-acts?redirect=false

[StayHumble]

From .63- $2.25?! SQUUEEZE?! LOL

Open 0.66High 0.6646Low 0.63Close 0.6363 10/03/2022

Open 2.285High 2.34Low 1.93Close. 2.05. 12/07/2022

[tw0122]

Tedlee2 ??
@ted_kentros
·

$MMAT $MMTLP #FinraFraud
This community is amazing. We are getting the news not only out there, but exactly where it needs to be.
@SEC_Enforcement

@DOJCrimDiv

@DOJPH

@cvpayne
Quote Tweet

Charles V Payne

@cvpayne
·
1h
Saw it trending and many have reached out but not learning enough from tweets alone. Hope to learn more today. twitter.com/ApeEuro/status…
1
2

IRONMAN_APE ????
@IRONMAN_APE
·
3m
505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 505 #COUNTERFEITSHARES #FINRAFRAUD $MMTLP $MMAT #MMTLP #MMAT $AMC $APE $GME $BBIG $TYDE

[TenKay]

Precisely. FINRA did exactly what it was suppose to do. They took action to protect people from buying essentially a worthless stock after Dec 8.

[trader59]

Folks who hadn't finished dumping the stock come to mind. Either harm them or allow others to buy stock that would be worthless a day later. Seems to me the right decision was made.
Still see claims that "shorty" had 160M shares, which is pure hogwash. Maybe one day folks will realize where to get factual information.

[TenKay]

Nobody has answered my question…who exactly was harmed by FINRA’s halt?

[trader59]

First off, not sure where this 60 cents price is coming from, the 52W low was about $1.10-1.20, and it was a number of months ago that happened.
Secondly, the short interest on this stock was pretty consistent the last few months in the 6.5M share area, until that last data point at 4.7M shares. You don't squeeze 4.7M shares against an O/S of 165M, especially with a volume over the last 3 days of 5M, 4.3M, and 13.7M shares.
All that tanking while social media sang in a chorus about the squeeze and "manipulation" was simply the pumpers dumping their positions with profit because they knew better than to hold on too long and get stuck with grossly overpriced stock in a private company.
So, once again, was the stock tanking down from $12 to under $3 FINRA's fault, too?

[TenKay]

“Frauds. Simply because some claim to have "Immunity"
does not relieve them from responsibility in Matters. Especially in Ethical Matters. “

They don’t “claim” to have immunity, the 11th Circuit already held in 2017 that FINRA cannot be held liable for its regulatory actions.

And someone has yet to explain who exactly was harmed by their action?

Plenty would have been harmed by their “inaction” however.

[StayHumble]

Frauds. Simply because some claim to have "Immunity"
does not relieve them from responsibility in Matters. Especially in Ethical Matters.

I'm commenting more on Clear Cut Fraud and not just on this specific Stocks Situation.
It's good to remember that there are Checks and Balances in the system to
Protect Investors regardless of what end of the spectrum.

[TenKay]

Who can’t hide?

FINRA?

They can’t be held liable for regulatory their actions.

And who exactly lost what here with their halt?

Some thinking they could sell their (after Dec 8) worthless stock to unsuspecting “investors”?

That is exactly the type of thing FINRA was empowered to prevent.

And they did.

[StayHumble]

That's Nice. .60-$12 though? BOOM!

If that's not a Squeeze I feel bad for those that short
when a REAL Squeeze comes along.

[StayHumble]

LOL But you Can sue for Malpractice, Negligence, Fraud etc.
Someones gonna end up footing the bill for whatever is taking place.

Immunity? .....Right.
Let's ask Curt Kramer about Immmunity
Bernie Maddof about Immunity.
Elizabeth Holmes about Immunity.
Ramesh 'Sunny' Balwani about Immunity.

Frauds can Run, but they can't hide.

[TenKay]

FINRA’s job is to protect investors. Any stock bought after Dec 8 would not receive the new stock. And it was precisely then it was being pumped with stupid theories about shorts…which there wasn’t a significant amount of.

So they did a U3 halt…and that protected investors in the marketplace from buying a worthless stock.

Not sure what people are so worked up about. Anyone who bought the stock before then is going to get the new stock in its place.

If they bought it simply to flip it on the short covering narrative nonsense then they made a mistake…but they still get the new stock.

FINRA just prevented anyone else from making a bigger mistake.

[cervelo]

so you are saying finra job is to protect the shorts as opposed to the shareholders?
so they protect their own, "the other CROOKS"

[cervelo]

If short interest was only a few million as our resident short states then letting it run is no big deal. now if as some say short between 82 and 200 million then THEY have a problem.
even if there is only 100000 shorts where do they think they will get the stock in the private placement to cover their short since we are not trading.

[TenKay]

Can’t successfully sue FINRA for doing their job.

In fact they have immunity from liability for their regulatory actions.

[StayHumble]

very interesting play here. Best of Luck to everyone.

$MMAT and $MMTLP have a Growing Audience.

[StayHumble]

False Equivalency. If "This" then "That". LOL

Doesn't mean there won't be a Suit filed more than me saying there will be one. lol
Glad this is a forum where we can share Opinions.

[StayHumble]

So it went From .60-$12, No Squeeze?
OUCH! I wonder how high an Actual Short Squeeze would go.

[trader59]

It was a pump and dump. Happens all the time on the OTC. They go up then they go back down, leaving the bagholders in their wake. These bagholders will own grossly overpriced stock in a private company.
There never was a squeeze. You don't squeeze 3-4% of the O/S. All that BS was just the fairy tale the con artists used to flip the stock. Those con artists dumped it from $12 down to $3.

[StayHumble]

LOL From .60-$12? That's a RUN!
Short Squeeze Myth. Right.

[TenKay]

It’s pretty obvious why FINRA halted it. Any stock bought after Dec 8 was not going to get the new stock and would therefore be worthless. U3 halts are meant to protect future investors.

FINRA did it’s job.

[trader59]

Short interest was down to 4.66M shares at the 11/30 data point, down 1.8M shares and less than 3% of the O/S, 1.5 days to cover all of it. The "short squeeze" was just another OTC hoax, the pumpers pushing it were the ones dumping the stock down from $12 to less than $3 while they told everyone else to buy and hold.
But it's FINRA's fault the stock tanked. I read it on the internet.

[TenKay]

Wake me when a “class action” is filed.

If there was ANY basis there would be dozens of “class action” trolling lawyers advertising for claimants.

FINRA probably lowered the U3 Trading Halt boom because of suspected stock manipulation.

That is their job.

[StayHumble]

Right…Because lawyers stay in their lane. And Lawyers only know others lawyers that work in their own specific field. Right.

Lawyers don’t talk to each other and sometimes work together to take on Cases. Right.