Today I Want to talk about the giant short squeeze that was recently ruined by these market makers by these hedge funds and by Finra I Want to talk about what happened, how they halted the squeeze and what shareholders are currently doing about it. So stay tuned and let's make some money. And now that I've straight in with the key information. so I Recently touched on this a few days ago when Finra just halted all trading on Mmtlp for an extraordinary haul with a statement that it will no longer allow trading until the symbol is delisted as I said.

I Touched on this a few days ago. but I want to expand on my video today because it's such fraudulent action by Finra to protect these short sellers. So Charles Payne actually interviewed the previous CEO and they perfectly explained exactly what happened on the lead up to what should have been a guarantee squeeze retail investors sounding an alarm big time all weekend long going out to the financial industry Authority Finra for halting its shares and a preferred stock of metal meta Metals And so we want to get into what happened. why is this such a big deal? Uh, here to help us out as former Torchlight Energy CEO John Berta whose company uh was was taken over if you will or at least the the symbol was uh by Meta Metals and John you and I spoke earlier in the phone.

it's it's It's a tough one to hash out in just three and a half four minutes. but let's get to the Crux of the issue here. Explain what happened for the audience who may not know what's going on. Sure, Well, Charles thank you for having me on and I appreciate you giving us this time.

Um, back in June of 2021 we concluded a merger with Meta Materials and as part of the business arrangement for that transaction we were to issue a series a preferred share um that was to be non-tradable uh for all of our Torchlight shareholders of Record on the dividend date on the record date and we close that transaction and issued 165 million shares to those shareholders of record and we went about closing the transaction and Meta changed the particular particular symbol to Mmat and now they're on the NASDAQ and going about their business. Um, fast forward about four months and after you know kind of doing some investigation on whether or not the entire short positions were closed out, we found out that that truly didn't happen and then two market makers got together Went to Finra, went to OTC markets and started trading the series they preferred as Mmtlp or Meta Materials preferred and they did so with fraudulent information on OTC markets and when I found out about it personally because they were using my information, I called OTC Markets and was advised at that time that Bender approved it to market makers. I got together and listed it without company input and without the issuer knowing and they want to allowed it and decided at that time at that point they were going to do nothing and so John this is this is not the company had nothing to do with this. Two market makers said, hey, we want this to trade Finra said okay, we'll trade so I think Charles paid in the previous CEO Perfectly explained it.

This Mmtlp was given to shareholders as a preferred share dividend and shouldn't have ever been traded. but in seemingly two market makers 10 points to whoever guesses who those are went to Finra and said we demand to trade this preferred share Finra obviously completely bent over backwards and said yeah, that's absolutely fine, We will allow you to illegally trade this share that should not be traded That obviously then given the ability to synthetically short this stock downwards, generating hundreds of millions if not billions of dollars in profits, profits that they never have to recognize as they never have to close out of their positions. But then when the Mmtlp stock was set to be delisted instead of these Shorts closing out of their short positions, Finra decided to hold all trading in a stock, allowing Shorts to never actually close and this symbol to simply be deleted as Jan Jack tweeted, He said two market makers basically hijacked a non-tradable series a preferred share of Mmat awarded to shareholders as a dividend and decided to illegally trade them in the OTC market without his approval even though they didn't get the company's approval, they somehow got the approval of Finra, the Dtcc, and the New York Stock Exchange But then when the time came for these Shorts to close out of their positions, Finra stepped in and said, hey guys, we're gonna hold all trading on a stock and determine it an extraordinary event. Instead of forcing these shorts to close, we're gonna stop all trading and delete the symbol instead.

If you didn't already know, you can currently get 20 free shares worth up to two thousand dollars each when you sign up for MooMoo right now using the link in the description below. I Mean we was also holding their largest ever giveaway for the holiday period currently holding a sixty thousand dollar giveaway Sweepstake As Edward Burchard tweeted, he said Finra committed crime with two market makers approving them to front run Mmat preferred shares that shouldn't be trading Those two market makers Let me guess. Citadel Securities and virtue Financial By any chance now I Want to explain why this is important and why Shorts can't continue to get away with this? As Genevieve tweeted She said last week been reported trading in a stock just before a spin-off hashtag. Finra fraud started trending and short sellers were saved from billions of dollars in losses.

Now, this is important because the Mmtlp stock ran from a dollar fifty all the way to 10 at the very very tippy top. Now, obviously, that's definitely not the true potential of a short squeeze, because in this instance, Shorts never closed out of any of their short positions. Finra just deleted the symbol and halted all trading. Instead, the Shorts decided to double triple and quadruple down and push the stock all the way from ten dollars per share back down to 2.90 They must have printed hundreds of millions if not billions of synthetic shares and obviously doubled, tripled and quadrupled down in their short positions in order to push the stock price back down.

But obviously they weren't worried because they knew that they could convince Finra to allow them not to close out of their short positions and simply to hold all of the trading and delete the symbol. Now I Want to step in here and specify this is not what will happen to AMC AMC The symbol obviously won't be delisted as AMC isn't spinning off or spinning out and isn't closing down the AMC business. Shorts will be forced to close out of their positions because they won't be able to convince Finra to suspend all trading indefinitely as AMC as a company, will survive and will continue trading under the AMC name. You Could argue that when Eight converts into AMC shares, the Ape stock could potentially be suspended indefinitely and deleted, but at the same time, we'll be given more AMC shares, so it wouldn't matter about Eight being deleted in this instance.

However, I Do think it's absolutely criminal that what should have been a guaranteed short squeeze was halted in the final few days before the stock was delisted. Obviously as the Mmt will be stock or the dividend we're spinning off and going private or the dividend specifically with ceasing to trade, it should have meant that all shorts were forced to close out of their short positions. Obviously, these shorts can't continue to hold a publicly traded short position in a privately traded entity, and therefore all Shorts should have closed. But simply Finra allowed them to continue holding their short positions and continue creating synthetic shares, and they simply suspended or trading and deleted the ticket symbol instead.

Obviously, if instead the shorts were forced to close out of all of their short positions, this stock would have likely ran Thirty dollars. A hundred dollars. Three hundred dollars, or maybe even higher depending on how many synthetics were created. Obviously, it's hard to say exactly how high this stock would have run with all of the synthetic shares because I don't know how many synthetics actually existed, But considering rattled away from a dollar fifty up to ten dollars without any Shorts closing any of their positions because they knew they'd have Finra on side one, can only imagine how high it would have gone now.

Houston We had actually made a brilliant video explaining exactly what these hedge funds should have done, what they did, and what Finra did as a result. Obviously, what these hedge funds and market makers should have done is buy up real shares to cover off their synthetics, or simply buy back all of those synthetics and delete them from existence and close out of their short position. But obviously what they said was to continue shorting the stock, continued creating the synthetics, even though they knew the stock was going to be delisted it, they continue to double triple and quadruple down on their short positions. Now, this obviously goes against Finra's rules.

They should have closed out of their shorts when a stock is going to be delisted, but instead they took out more shorts instead of closing out of those shorts. Now, Finra obviously looked and realized there needed to be hundreds of millions, if not billions of short positions closed on the exact same day, which would have squeezed the stock generating hundreds of millions if not billions of dollars for the shareholders and investors. Therefore, instead of Finra protecting the shareholders and the investors, they decided to protect these short hedge funds. And these market makers not doing their Duty as a regulator and protecting investors and shareholders, they were instead protecting the hedge funds.

Obviously, I'll leave the link to this tweet and Houston's video down in the description below if you want to check out further. But there is a reason as to why this manipulation won't continue for much longer. and that's because the market is still crashing and crypto is about to crash even further. As before, next tweeted, they said Binance is now offering fifty percent APR interest on those tether fraud tokens.

Now, typically, when an exchange offers giant interest rates, it's because they're desperate to get cash in the door and they're likely already insolvent. They said: Binance appears to be desperately attempting to increase deposits first Cloud Mining scams Now 50 APR interest rates on Tether fraud tokens Now usually you see those really sketchy exchanges offering 50 or 100 APR But now you've even got a Binance of all exchanges offering giant giant interest rates. clearly desperate for deposits because as Gold Telegraph tweeted Binance customers draws yesterday exceeded three billion dollars in 24 hours. Clearly, customers are panicking and withdrawing their cash from Binance and withdrawing their crypto because they know that Binance is insolvent and if anything, Binance offering a giant 50 interest rate just simply proves exactly that.

If you haven't already done as I said last year and sold off your crypto or at least withdrew your crypto off exchanges, I Really urge you? you to do it Now Obviously Guys, Be sure to let me know what you think down in the comments below. And as always, guys, be sure to subscribe to the channel and ding that notification Bell because that way you'll be alerted when I upload a new video. Cheers!.