I think it would be wise to make an active follow up on MMAT.
Im going to share back @Joey_bee original post cause it was put in archives.
It seems that the stock been in its revers trend for some time now. Since the end of September to today, the compaby been making progress, getting partnerships, deals, opened its new global headquarters and Centre of Excellence in Dartmouth, Nova Scotia. “This 68,000 square foot state-of-the-art facility will house some of the world’s leading scientists in metamaterials, advanced manufacturing, and nano-photonics. It is the only facility in Canada to combine advanced packaging for semiconductors, unique materials, and chemistry research, as well as design and manufacturing of holographic and other optical products.”, from PR Meta Materials Opens New Global Headquarters & Centre of Excellence
I grabbed 10 calls for december 30th @ $3 strike .
Going to keep an eye on it and might grab shares aswell.
The MMTLP is another spinoff dumpster fire that will relieve a lot of retail of their money.
FINRA halted trades on Friday because of volatility. Monday is the last day to trade MMTLP. After that everyone gets NB shares, which are non-tradeable and non-transferable. In other words, the money is effectively locked up for who knows how long. NB itself is a pre-revenue company supposedly sitting on some oil…
How did retail get suckered into this predicament? The promise of $1000 shares, of course. Apparently there are naked shorts who have to cover, and the amount of shorts is allegedly a few times more than the float. Nevermind prior data suggesting very little by way of short interest.
The euphoria did result in price spiking a bit, and some of it might even have been due to short covering. Of course, in the end, it became a race of longs wanting to get out before getting stuck in NB, which resulted in the crash over the last few days. Any shorts who needed to cover will likely have covered quite comfortably.
The MMTLP sub is, of course, in denial, and blaming speculation, conspiracies and all that. The current scapegoat for those with pitchforks and braying for blood is some dude on some FINRA advisory council. Granted, FINRA halting trading a day before the share was supposed to go poof is a bit of a dick move, but anyone with half a brain cell should have been out of MMTLP way, way earlier.
Planning on taking leaps on this one tomorrow. Besides the MMTLP bulljive, MMAT seemed to be doing well fundamental wise. Company was on the 2023 CES last week making a really good impression
