![]() Since the trend began with GameStop stock earlier this year, many short sellers have ditched their bearish bets on small- to mid-size companies. In the past, Reddit traders have targeted stocks with high short-interest rates in an effort to drive up the price and force short sellers to cover their positions at a loss, better known as a short squeeze. The stock has a 26% short-interest volume, according to data from Fintel.io. The Redditor bought about $2,000 worth of shares, according to a screenshot viewed by Insider. The Redditor, who has been trading for about a year, told Insider he "hopped on board" with the stock after seeing mentions on Reddit and a pre-market rally. ![]() Either way you hold another day you win," said one Redditor, with 5,000 "comment karma" points. "You can either make money on the squeeze, or make money if it crashes by absorbing the dividends. The words "dividend," "short," and "squeeze" were several of the top mentioned words about the stock on Reddit investing threads, HypeEquity data showed. The post Former CEO Launches MMTLP Stock Investigation appeared first on InvestorPlace.On Wall Street Bets, retail traders touted the opportunity to make money off the stock from dividends and a short squeeze. It doesn’t matter if you have $500 or $5 million. In its recent S-1 registration statement, it discloses. The Best $1 Investment You Can Make TodayĮarly Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” In its most recent 10-Q, Torchlight warns of accumulated losses of 23.4 million as of 3/31/14 and that it expects to incur further losses. ![]() More From InvestorPlaceīuy This $5 Stock BEFORE This Apple Project Goes Live Write him at tweet him at or subscribe to his Substack. He is the author of Technology’s Big Bang: Yesterday, Today and Tomorrow with Moore’s Law, available at the Amazon Kindle store. ĭana Blankenhorn has been a financial and technology journalist since 1978. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Dana Blankenhorn did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Another focus of the investigation will be on the original listing of MMTLP preferred stock on over-the-counter exchanges.įlamethrower has retained counsel to investigate the transaction, and Brda is seeking publicity for his cause. According to his Twitter, Brda wants to investigate whether market makers, broker dealers, and other third parties sold unauthorized shares of Next Bridge. Trading in MMTLP was halted last month as the company moved to spin off its Next Bridge Hydrocarbons unit, converting the preferred shares into Next Bridge common. At the time, Meta Materials claimed organic revenue of $1.6 million per year. Torchlight said it struck oil near El Paso during the last decade, but chose to merge with the company after the Covid-19 pandemic hit for a 25% stake in the combined firm. At the time, Torchlight shareholders received preferred stock, which traded for a time under the symbol MMTLP. The company’s CES booth this month showed what it said were new materials for batteries and electric cars.īrda was the CEO of Torchlight Energy Resources, which merged with Meta Materials in 2021. Meta says it has orders from an unnamed central bank for KolourOptik, an optical material delivering 3D effects on a 2D plane, to be used against counterfeiters. TRCH Stock: 11 Things Torchlight Energy Investors Need to Know About the Merger Dividend. Meta Materials was briefly a meme stock in 2021, rising to a high near $20 per share. ACHR stock carried a high short interest of 21.6 as of Sept. ![]() InvestorPlace - Stock Market News, Stock Advice & Trading Tips Seller Beware Total revenue for 2022 is estimated at $11 million. 19 at about $1 each with a market capitalization of less than $375 million. Meta Materials, which says it is working on next-generation materials for use in communications and aerospace, saw its shares trading Jan. MMAT stock lost almost half its value over the last year. John Brda, who ran an oil and gas company that merged into Meta Materials (NASDAQ: MMAT) in 2021, has formed a shareholders group to investigate what he believes is market manipulation by market makers, broker deals, and other unnamed third parties.
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