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15.7M 0003 Buys vs. 0.7M 0002 sells yesterday
Only buying yesterday. Looks like shorts are starting to cover.
48M short of the 88M sold. Short position remains 760M.
I'll say it again. I don't understand the short case here and shorts stubbornness is one of the reasons the OTC is struggling. Shorts could have covered 0003/0004 at some profit.
Instead hundreds of thousands of dollars are being spent to prevent upward price movement when there are sufficient catalysts to justify a +100% run. Instead all of this liquidity is being tied up for arguably a max 50% gain and removing more liquidity from the OTC. The bearish market conditions and low volume only add to this pressure. There are many stocks with similar catalysts that have reported +100%intraday gains.
Letting this stock run puts money in the pockets of longs which is new liquidity available to the OTC. Shorts can easily swing their short position long for larger gains.
You can drink coffee, pop, etc when thirsty but that does not mean that you are properly hydrated. This may mean little to healthy people, but is important to people suffering from various ailments.
The amount of $$$ spent to hold this back is not good for OTC.
Do the math:
760M shorts @ 00035 avg = $266k
100% collateral on shorts = $266k
250M on the ASK @ 0004 = $100k
That's over $630k being spent for a max 50% gain. If successful it injects $315k back into OTC.
That money repurposed long would inject $600K - $1.2M back into the OTC + any long position that pays out. It's easily a $315k - $2M swing. Dilution isn't the only think killing the OTC right now.
The catalysts are all there for a +100% run.
Min 760M open shorts. 860M last float reported 06-01-2021.
Barchart recommends a 72% BUY rating on short, medium and long indicators.
https://www.barchart.com/stocks/quotes/mrnj/opinion
Closed 0004 Friday. 6 wks ago was 0002.
6.2 Billion shorts later (62% of volume) the stock is trading up 100%.
770 Million minimum short interest has built up and the last reported float was 860 MiIlion.
Good things coming for $MRNJ.
The 860M float could be locked with over 750M open shorts.
Makes sense to me by the erratic movement over the past days trading.
Feels like MMs trying to shake things up to create liquidity.
There are still 750m shorts to cover and today is Friday. I hope they cover so we can move on.
203M shorts were dumped. 750M remain open.
I get that there are some vengeful people here but this is one of the reasons the OTC is a bad place to be right now. What happened yesterday bags and traps liquidity that can't trade other tickers. It was not necessary.
The short case is a max 50% gain. The long upside was +200% with no RS, no Dilution, and regular updates.
Not sure which group was trying to make a point but we get it.
Over 200m shorts dumped today.....
Every long should be buying and telling every other long that they know to buy. That's how you squeeze a liquidity trap.
750M open shorts. No Dilution, No RS. Regular CEO updates. Upcoming catalysts.
No brainer here.
FACTS. Someone is dumping shares @ 0003 at close, but the majority of $MRNJ stock are trading 0004. This creates the impression that the stock is closing and opening 0003 while the majority of trading is 0004.
IMO longs getting 0003 fills are lucky! Keep dumping. I'll happily buy them.
FACTS. As of Oct 11, 2022, Shorts have built a 720M short interest and are struggling to cover this position in low volume because no one is selling to them in 0003.
Shorts are buying and flipping shares at 0004 to prevent a squeeze which will happen above 0005.
Many shorts on this board have lied suggesting that OTC stocks cannot be shorted. OTC stocks can 100% be shorted with likely 100% collateral + Borrowing Costs.
Many shorts have also lied suggesting OTC Shorting is not profitable. OTC Shorting can be very profitable in stocks that run up and heavily dilute. Fortunately, for longs there is no dilution in this stock which is why shorts are trapped.
FACTS. There is no Reverse Split.
The CEO confirmed this on 10-03-2022 via Press Release
https://www.otcmarkets.com/stock/MRNJ/news/Metatron-Inc-To-Fully-Cancel-Reverse-Split-on-File-and-Negotiating-12-Month-Favorable-Terms-with-Debtholders?id=374629
Also, in 2014 (8 years ago) $MRNJ filed a form 1-A/A to seek SEC approval of a Reverse Split and change to reporting status. The request was declined by SEC multiple times and for the last time in 2019.
IMO (not advice) having been declined by the SEC and having $282k in Convertible Debt (only) to a note holder, this CEO is choosing to drive value to the company to repay the debt.
I suspect they are holding back one more 0004 dump once 0005s start to clear.
The number of 0004s available to buy is slowly dwindling eliminating shorts ammunition to hold back the ASK.
I agree. This is going to go soon enough. With few 0005-0008s a quick +100% move is possible if longs don't profit-take too quickly.
720M short interest, 39M 0004s, 10M 0008s => Priceless
I bet we see at least 50M on the 0004 bid at open. That's the size of the order bought just before yesterdays close.
Good news is that Shorts are struggling if they are Buying-Selling orders at Par.
Slap 0005s now or chase 0006s later....
There is no Reverse Split. Get over it. Confirmed "in writing" by the CEO. Declined by SEC in 2018 (4 years ago).
No dilution. No RS! Catalyst after catalyst.
We only head up if longs don't dump. Shorts will want to cover at 0006.
getmoreshares the RS posting is misleading. It reads as if there is a RS. There is 100% NO RS as confirmed by the CEO and SEC. The only thing that has been extended is the opinion that the RS is not moving forward and some details regarding MRNJ reporting classification.
It is a 2014 filing (8 years ago) that was last active in 2020 (2.5 years ago).
Time to get past the past.
Shorts are so desperate to cover they are lying.
There are absolutely hundreds of millions of open shorts.
This makes sense. So if you add up all the transactions above 50% there are over 700M uncovered shorts over the past 3 weeks. This should be the short interest for $MRNJ
The math ...
1 short = 1 volume
1 cover = 1 volume
Short volume should not exceed 50% of total volume unless there are uncovered shorts.
MRNJ SS has not changed. TONR went up last night.
CEO has promised no dilution. There are quite a few commons that they could be selling.
Lots of shorting pressure and retail selling on the ASK. Retail needs to back off the ASK if they really want another 100% run out of this.
Very possible with the chart and catalysts if retail would let it go.
SHORTS PRESSURED. Piling on the 0005 bids early and dumping some 0004s.
No Long would be dumb enough to dump 0004s right now. Minimal 0003s sold over the past 3 weeks and 650M 0003s already on the BID.
0004s would be selling to buy back at 0004.
Shorting in OTC is very profitable for any short saying otherwise.
A 0005 to 0004 short is a 25% gain ...
but a 0005 - 0006 cover is a 17% loss
0005 - 0007 is a 29% loss
0005 - 0008 is a 37% loss
etc ....
That is why there will be cover pressure above 0005.
Shorts creating fear. If what they are saying is true the OTC report would always be 50% short - not 60% / 65% / 75%.
There have been steady walls put up at 0005 because shorts don't want it to get to 0006. Fact is there are over 650M open short positions to be covered.
Don't believe me, see what happens above 0006.
Haven't been this excited about a ticker in a few months.
I think MRNJ is heading places with the change in spirit by the CEO.
Monster week ahead with 700M open shorts and 2 PRs.
0005 ASK was only 150M last I remembered. That only covers 25% of the open short interest. There will be panic above 0006s!
CEOs will need to adapt with the new SEC rules and current environment. MRNJ looks like they are turning a corner.
The last few PRs were solid. I am looking forward to Monday!
This chart setup is hands down the best trip setup in the OTC!
getmoreshares we need to remove the pinned RS posting. The post is very misleading and appears as if there is an active RS. The request was rejected by FINRA in 2018 (4 years ago) and there has been no further action since Mar 2020 (2.5 years ago).
Time to let a dead fish be dead.
Metatron will submit a new request to FINRA if they plan on filing a reverse split. In that case, there will be months before it is filed with FINRA; reviewed by FINRA; filed to OTC Market and executed.
I think Metatron is changing strategy to focus on creating shareholder value rather than destroying it.
66% of yesterday's volume was short, including the 2M dump at 0003.
Shorts appear to be stuck now.
I saw a post saying there are 650M open short positions. Shorts are screwed with only 150M on the 0005 bid. I hope they get the chance to cover soon before we take off.
VWAP dropping is fantastic for Bull case. The majority of longs are all on the same level now. We move up together!
Here are the logical comments
- no dilution until Nov 1 (minimum)
- 1 acquisition completed, one yet to come
- CEO commitment to shareholder value (he clearly has to produce more Rev)
- under $300K convertible debt and $700K shareholder equity
- highest trading volume since Oct 2021
- heavy buyer accumulation sitting at 3 Billion
- 650M shorts betting in the opposite direction with only 150M+ on the ask at 0005
- wide open chart above 0005
Solid RISK-REWARD IMO
Says the short at 0004 trying to unload at 0003 :)
IMO the 0005 wall is shorts holding the price back. The chart is wide open above 0005.
Support and Resistance
0008
0013
0016
0026
0030
0049
A S1 was never filed. The 2018 request was not approved. That was 5 years ago.