FINRA clearly believes it is necessary to halt trading in order to protect the interests of current investors. In fact, it is among the most common reasons for a trading halt. Imposing a trading halt in anticipation of an important market event is commonplace, as the Corporate Finance Institute explains. It’s also worth noting that FINRA’s actions are nothing new. “FINRA may impose a trading and quotation halt in an OTC Equity Security pursuant to Rule 6440(a)(3) where FINRA determines, in its discretion, based on the facts and circumstances of the particular event, that halting trading in the security is the appropriate mechanism to protect investors and ensure a fair and orderly marketplace.” But so far, the actions all seem to be above board, with no illegal activities. Many traders have called for a lawsuit against FINRA and have resorted to tagging market influencers such as Elon Musk and AMC Entertainment (NYSE: AMC) CEO Adam Aron. Metamaterials are a new class of functional materials, designed around unique patterns or structures, which cause them to interact with light and other forms of energy in ways not found in nature. Some have accused the organization of market manipulation while others have touted the levels of short interest. Meta is from the Greek, meaning to go beyond.
Since FINRA imposed the trading halt, though, retail investors have been voicing their anger. Until today, everything seemed to be going according to plan.
Pan also notes that the date of record is scheduled for Dec. The newly received Next Bridge shares will not be tradable either, nor are they eligible for electronic transfers through clearing corporations.” “MMTLP shareholders should conduct adequate due diligence on this situation, as the preferred shares will cease to trade on the over-the-counter (OTC) market following the spinoff. As InvestorPlace Assistant News Writer Eddie Pan reports: While MMAT is down today, the spinoff will likely help boost it when Next Bridge Hydrocarbons officially replaces MMTLP stock. In this case, it is the Next Bridge Hydrocarbons spinoff, an event that promises to generate high trading volume upon its completion.
Meta materials logo code#
It has been given the halt code U3, indicating that it pre-dates a significant event. This news has left investors with some pressing questions.įINRA confirmed the trading halt this morning on its over-the-counter equities list. But today, FINRA shocked retail traders everywhere as it halted trading of MMTLP stock ahead of the spinoff. Yesterday, the company released a statement confirming that the Financial Industry Regulatory Authority (FINRA) had received notice of its corporate action regarding the share exchange. Metamaterials are artificial materials with characteristics beyond those found in nature and that enable on-demand. Meta planned on accomplishing this by converting its Meta Materials Preferred Shares (OTCMKTS: MMTLP) to shares of what would become Next Bridge. For weeks, investors have been waiting for updates on the company’s plans to spin off Next Bridge Hydrocarbons, a subsidiary that the company owns in full. The highly anticipated Meta Materials (NASDAQ: MMAT) spinoff has taken an unexpected turn. was incorporated in 2011 and is headquartered in Dartmouth, Canada.InvestorPlace - Stock Market News, Stock Advice & Trading Tips and changed its name to Meta Materials Inc. The company was formerly known as Torchlight Energy Resources, Inc. Its customers are OEM providers in various industries, including aerospace, automotive, consumer electronics, communications, energy, banknote and brand security, and medical devices. In addition, the company develops NPORE, a ceramic nanoporous membrane separator for lithium-ion batteries. It also develops and produces nano-optic structures and color-shifting foils that are used in authentication and brand protection applications in various markets, including banknotes, secure government documents, and commercial branding.
The company products include metaAIR, a laser glare protection eyewear NANOWEB, a transparent conductive film holoOPTIX, a holographic optical element glucoWISE, a non-invasive glucose measurement device and metaSURFACE, which allows an enhancement in signal to noise ratio of up to 40 times for magnetic resonance imaging scans. Meta Materials Inc., a smart materials and photonics company, develops, manufactures, and sells various functional materials and nanocomposites.
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