MMAT - full disclosure this DD is from reddit.
$MMAT Short squeeze being planned via MMTLP for Jan 21 2022 when Torch Options Chain Expires.
Basically shorts in dying chains have to close out FTDs like what happened with $LITT when it merged with $NEGG.
MMTLP is the preferred share that was created after the MMAT & Torchlight merger.
If what I am understanding is correct then MMTLP and MMAT are on the verge of a possible squeeze. It is speculated that the CEO will make some kind of announcement and in order to be eligible for a dividend payment from MMTLP is to hold it before DEC. 28th. It is confirmed that anyone holding MMTLP at the time of record date when a dividend is declared will receive the dividend. It is also speculated that an announcement will be made by the end of December and a dividend will come Q1 of 2022. Some how from what I have read MMTLP is also being Naked short. It is speculated that the dividend announcement will be the spinoff company. This will make the price go up as the only way for shorts to cover would be for them to buy MMAT or MMTLP since any shorts legit or naked can’t provide the dividend and must buy back the shares they are unable to deliver upon. There is also some DD to support a cash dividend minimum of $25 to $50. To me it makes more sense the dividend will be a spinoff into a private company. An announcement will be beneficial for both MMAT and MMTLP and is expected by the end of Dec.
I have also been long on MMAT as a company and a speculated squeeze has been talked about since before the Torchlight merger. As someone who is active in both MMAT and MMTLP subs on reddit this information is also bias. I will be adding some April calls soon as well and more shares of MMAT and MMTLP.