The Investment Thread
What is YOUR main take away from that video?
Well. One is the idea of naked shorting was absolutely forbidden to say on a news network just 18 months ago. It’s now commonly said, and it is a reality in our market. The small to mid cap stocks are most vulnerable to the abuse.
Two is FINRA said that MMTLP would be traded until EOD on Monday. But the ticker was permanently halted on Thursday.
There was a large group of people that new that abusive naked shorting on that ticker was happening (well beyond the legal type of naked shorting (i.e. for liquidity purposes).
This company was going private and all the naked shorters were going to be exposed. They got caught. And a mega 2 day short squeeze was imminent.
Then FINRA (probably under pressure from unknown sources) permanently halted it under code 3. Which is used to describe “extraordinary events”. They did this two days early.
My main takeaway is the amount of white collar crime in the financial markets needs to be taken down. And, people need to direct register there shares. The tsunami of “bank runs” that may hit crypto and stock brokerages is coming. Very very few people have shares or coins in there name and do not bother to read fine print.
Things that I read about just 18 months ago is no longer tin foil speculation. It’s a reality.