![]() ![]() If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that ’s writers disclose this fact and warn readers of the risks. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s equivalent to a short interest as a percentage of float of about 2%. Based on the latest data, there were 7.65 million shares of MMAT sold short as of June 15. Meta Materials (NASDAQ: MMAT) stock is in the green today after the company announced that it had retained law firm Christian Smith & Jewell, LLP to assist with investigating allegations of naked. ![]() This could also result in the creation of fake or phantom shares, which can lower a stock’s price due to its dilutive nature. In terms of short selling, this can occur when the short seller does not own all or any of the shares at the time of settlement, which results in a default. However, correlation does not necessarily equate to causation.įTD occurs when one party in a contract fails to deliver on their obligation to the other party. March’s high FTD figure seems to correlate with a corresponding drop in MMAT stock over the following month. ![]() FTD spiked to a yearly high in March, with some days registering over 8 million FTD shares, such as March 21 and March 22. In the past, the law firm has represented publicly traded companies like Overstock (NASDAQ: OSTK) and Taser International, which trades as Axon Enterprise (NASDAQ: AXON).īased on data from Fintel, Meta’s number of failure-to-deliver (FTD) shares is currently close to a yearly low. Meta points out that Christian Smith has a prominent track record of successfully representing companies facing market manipulation. MMAT Stock: Naked Short Selling Investigation Moves Forward ![]()
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