12/12/2023 0 Comments Torchlight short squeeze![]() One MMTLP (Series A Preferred share) will be exchanged into one Next Bridge common share once the spinoff is completed. Meta Materials Inc (OTCMKTS: MMTLP) is the placeholder for the Next Bridge Hydrocarbons Spin off from Meta Materials. ![]() We have come to the conclusion that there never was a short position on MMTLP and in the coming days when they balance the books, we believe that’s exactly what they will show. Investors saw the writing on the wall, there was no short squeeze happening here and they were selling. The last day that MMTLP traded last Thursday it lost almost half its value, relentless selling. If an enormous short position of 10s of millions of shares had to cover in days, they would have been covering a long time ago. We have now listened to the logic of the youtubers and one thing they all seem to miss is that MMTLP was not trading like a stock that had this enormous short position stuck in it during the last week. Youtube Bird lady rollerpigions saying there was millions of MMTLP shares short and then the Torchlight CEO John Brda appearing on multiple live streams with Bird Lady agreeing with everything she was saying and going as far as saying that “everything Bird Lady was saying was right over the bullseye” this gave her an air of legitimacy, we believed her. As for the short squeeze, we believed just like everyone else, MMTLP was skyrocketing up the charts, dozens of YouTube channels, stock twits, reddit everywhere else all saying the same. Everyone who was invested in MMTLP will now be shareholders in Nextbridge Hydrocarbons, a private Company. FINRA rightfully halted the stock to protect shareholders who would have bought MMTLP after the 8th because anyone buying after the 8th did not get the Nextbridge shares and would have been buying an empty placeholder. This of course is not what happened FINRA is not corrupt and they are not working with anyone. If you go on YouTube there are dozens of videos now saying that FINRA is corrupt and working with the hedge funds to screw the little guy and that what happened to MMTLP is “unprecedented” and nothing like this happens on the bulletin boards. ![]() Our thoughts on MMTLP and what happened: As everyone knows by now MMTLP was halted and will not resume trading again. A break over $5 and things start getting interesting, a break over $7.51 and MMTLP could really take off. As we said in our prior article on MMTLP: “After a healthy pullback from its $7.51 highs the WallStreetBets short squeeze is starting to heat up again.” While the original post on WallStreetBets was deleted due to market cap issues MMTLP is all over reddit and is being regularly posted about on Short Squeeze and everywhere else. The stock has found solid support since its pullback off its recent highs and is now moving northbound steadily and gaining steam. Meta Materials Inc (OTCMKTS: MMTLP) continues to move steadily northbound up over 12% on Thursday and heading towards $5 per share. ![]()
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