I think it's extremely hard for Finra to justify its actions, but we need to acknowledge this has happened before with no consequences...
- $SPRT war flashbacks -
The problem is, class actions and lawsuits take many years... $MMTLP investors have a very big fucking problem NOW.
The situation with this forced sale of $MMTLP and extraordinary halt by FINRA is going to force everyone's shares into settlement, which will force them to transfer to a private company.
You can't sell them.
However, this is a taxable action, so... this is gonna suck but...
You're all going to be paying taxes for the "sale" of your shares based on the market closing price of $MMTLP as a result of this extraordinary halt that will force you to "sell" but simultaneously not sell your shares, resulting in short term capital gains taxes...
And because you can't sell, these shares are basically worth $0 right now...
You all need to be ready for this situation because it's going to blindside 99% of the people who aren't looking at this objectively right now.
Not shilling. Not bullshitting... and I'm so sorry...
Everyone should get in touch with their brokers on Monday, but this is pretty much a foregone conclusion.
You guys need to seek tax and legal help immediately.
At this point, I'm only going to be researching this event as just that. There is no investment opportunity here.
This situation, whoever is responsible for it, absolutely left retail holding the bag, but I truly fear this may have been a pump and dump from the beginning, regardless of short seller involvement, based on past history of Torchlight and MMAT activities.
This feels very similar
I wish everyone the best of luck. I'll be covering this situation on my channel in the future at youtube.com/TheDevilsStock….
Keep an eye out for updates.
Good luck to all of you.
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For those who are unaware, Congress and the White House are terrified of a rail union strike because it would cripple the US economy and cause transportation/logistics to break down.
Despite that, Union Pacific refused to grant additional paid time off for workers.
In response, The White House has made it illegal for rail workers to strike in the face of what it calls a national emergency.
The Union Pacific Railroad has the money & resources to grant these benefits but refuses to do so out of greed, not necessity. time.com/6238361/joe-bi…
I'm going to clear up something regarding $AMC's share dividend and the fears about a "dilution" through an equity merger.
This will be a bit lengthy.
While you might argue that it is "dilution", what you fail to realize is that @CEOAdam is giving you all a gift of free equity.
If a merger between the preferred shares happens, it will because apes voted on it.
Here are the pros and cons we should consider...
First, $APE is a new equity which is separate from $AMC, tied together only by the value of the company.
They are priced separately.
By itself, $APE has no bearing on $AMC's value, but it *does* offer a separate dilution option for the company that has nothing to do with synthetic shares in $AMC.
It literally has no effect currently.
But if AA can sell those shares, the company can use that cash.
Just a reminder of this thread where I highlighted the last time $BBIG barcoded like crazy before it hit a liquidity pool about 10% below it's average price on the week and then took off for the stars within 30 days.
$BBIG has more than 250,000 call options hidden in the options chain with the potential to expire ITM and put unimaginable pain on market makers and the shorts who have beaten $BBIG into the dirt.
For context, 257,640 calls is over 25.7M shares, or 20% of the total Free Float.
Market makers have been anticipating $BBIG would not survive this beat-down, and have been dictating the price on these options as worthless for the past month to convince retail to sell for pennies on the dollar.
In driving the price down so far, they've created an opportunity.
The recent sell off (almost entirely barcoding) looks like it was a liquidity hunt from the beginning.
The drop to $1.05 has reclaimed support since yesterday and is beginning to form an inverse head & shoulders, simultaneously breaking out of a falling wedge.
These are just technicals, but the extreme short exempts on $BBIG are in-line with the same behavior that I've observed in dozens of squeezes that were bottoming out within days of squeezing to new heights.
It happened to $BBIG and $SPRT around the same time in Aug & Sept 2021👇
This is what it looks like graphed out on a chart, with short exempts spiking extremely high, also coinciding with a descending wedge that occurred over the same length of time and with similar price-action leading up to the squeeze.
Hell's Trading Floor will be collaborating on a new project to tabulate and record ALL retail shareholders' stock holdings on a voluntary disclosure basis in order to prove to the regulators that #WeOwntheFloat
Expect further details from us once we have made some progress on the project.
Rest assured that our code and our process will be completely transparent to the public, as will the sanitized and anonymized data once it is collected.
I don't normally mix #InfoSec with #stocks, but to all my friends in the industry, we could use some help with pentesting & validating our code once it gets to that point.
This project needs to be kept secure. The entire banking and stock exchange industry will be against it.