Top Tweets for #2dayspositioncloseonly

about 1 year ago

@PeteSessions Sir, you asked why we didn’t sell during the price drop. This interview with then VP of the OTC market, was confirmation we had until end of 12th to sell. $MMTLP $TRCH What @FINRA stole with the U3 halt? #2dayspositioncloseonly #WhatistheMMTLPsharecount?

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Branimal

@SirBranimal

about 1 year ago

$MMTLP $TRCH What @FINRA stole with the U3 halt? #2dayspositioncloseonly #WhatistheMMTLPsharecount?

DrewDiligence

@KarmaCollects

about 1 year ago

$MMTLP: Yesterday, during a town hall, Congressman @PeteSessions was asked directly by an MMTLP shareholder about FINRA’s conduct and the broken promise of a share audit. Sessions responded by agreeing that the rug was pulled from under us... which we appreciate... but then pivoted to mention the SEC’s recent charges against former Meta executives. The shareholder, to their credit, pushed back immediately and pointed out what many of us have said for months now: those charges have nothing to do with the lack of a share audit and transparency from the regulators. The issue at the heart of this is simple... how many shares exist, and why has no regulator been willing to account for them? That question still hangs in the air, unanswered. I also found it interesting that Sessions also brought up the price action on the last day of trading and asked why people didn’t sell if they were concerned. So let me try to explain this in a way that hopefully makes it clearer for the Congressman, or anyone else still asking that question. In the two days before the halt... Wednesday, December 7th and Thursday, December 8th... every single major U.S. broker told their clients that Friday, December 9th, and Monday, December 12th, would be “position close only” for MMTLP. That meant you couldn’t open new positions... only close out existing ones. In addition to that, some brokers even notified clients that short positions would be forced to close during that time. So what does that mean in practical terms? It means that retail investors were led to believe... based directly on FINRA’s own guidance and two separate corporate action notices... that Friday and Monday were the critical two days to sell. And it wasn’t just a hope. It was an expectation. The price of the shares moving upward was not just likely... it was logically anticipated, based on the idea that shorts would have no choice but to buy back shares to close, in an environment where opening of any short positions would not be allowed. That’s when the price was supposed to run. So why didn’t people sell sooner? Because it would’ve been like walking out of a bingo hall with a nearly full card before the last ball was pulled. If you knew the dealer told the hall that the card would likely fill out on Friday and Monday, why would you walk out of the game on Thursday... especially if your card was nearly full? We were all playing by the timeline FINRA gave us. Then they moved the goalpost mid play. They halted trading on Friday before the open, without warning, and locked everyone in. That’s why people didn’t sell. Because we were told... explicitly... that we still had time. So Mr. Sessions, with respect: We appreciate your continued acknowledgment that something went terribly wrong here. But let’s not minimize the decision to hold based on clear regulatory messaging that was reversed without notice. This wasn’t investor negligence. This was investor reliance... on information published by FINRA and echoed by brokerages across the country. And that is exactly why a share audit is still critical. Because if that rug pull happened after millions of counterfeit or unsettled shares were sold into this security... and never reconciled... then what happened to us wasn’t just a regulatory breakdown. It was theft. Plain and simple, sir. We invite your office to re-engage, demand the share audit you called for, and press the SEC and FINRA for real answers... not recycled statements. At this point, transparency should not be optional. Thank you.

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