{"id":1792427,"date":"2023-01-02T03:03:34","date_gmt":"2023-01-02T08:03:34","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1792427"},"modified":"2023-01-02T03:03:48","modified_gmt":"2023-01-02T08:03:48","slug":"how-the-finance-regulatory-authority-allegedly-protecting-retail-investors-is-screwing-them-over","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/how-the-finance-regulatory-authority-allegedly-protecting-retail-investors-is-screwing-them-over\/","title":{"rendered":"How the Finance Regulatory Authority is Supposedly Protecting Retail Investors Is What They Are Doing"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhow-the-finance-regulatory-authority-allegedly-protecting-retail-investors-is-screwing-them-over%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1792427&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p>You may be familiar with the GameStop and AMC fiasco that happened in 2021 when Robinhood, a stock trading app, halted investors\u2019 ability to buy or sell their stocks while those stocks were significantly rising in price. Robinhood used this tactic to screw over investors and protect their hedge fund friends on Wall Street. Investors began to ask themselves these questions. \u201cIf brokerages and the regulator agencies allowed this to happen, can they get away with anything?\u201d\u00a0 <\/p>\n<p>The Financial Industry Regulatory Authority (FINRA), a year and a quarter later, answered that question with a resounding &#8220;yes&#8221;. They stopped the selling and buying of a Series A preferred dividend for Meta Materials Inc. ($MMTLP). We\u2019ll get into what happened shortly, but it\u2019s important to understand who FINRA Is and how they have a direct role in what happened to $MMTLP and its investors.<\/p>\n<p>FINRA\u2019s <a href=\"https:\/\/www.finra.org\/about\/firms-we-regulate\" target=\"_blank\" rel=\"noreferrer noopener\">mission<\/a> is \u201cTo protect investors and ensure the market\u2019s integrity. We work every day to ensure that everyone can participate in the market with confidence.\u201d When we look at what happened to Meta Materials Inc. this year and $MMTLP last year, one keyword to remember is \u201ceveryone.\u201d <\/p>\n<p> Shorting Torchlight <\/p>\n<p>Torchlight Energy Resources Inc. was the first company to be listed on NASDAQ. They have 97,500 acres in Texas&#8217; Orogrande Basin. This land was presented as one the largest. <a href=\"https:\/\/www.hydrocarbons-technology.com\/news\/torchlight-energy-orogrande-well\/\" target=\"_blank\" rel=\"noreferrer noopener\">discoveries of oil and gas<\/a> Since the 1970s, U.S. soil has been home to this oil. It is estimated to have 3.2 billion barrels worth of oil recoverable, and a surplus of natural gasoline. Their stock price was experiencing unusual trading patterns due to heavy shorting despite all the positive news from Torchlight. Their stock price dropped to $0.20\/share. They struggled to raise capital necessary to continue drilling wells and to meet their drilling requirements.<\/p>\n<p>John Brda, Torchlight CEO and founder of Torchlight Oil and Gas Company had to take drastic measures to save the company and their oil and gas gold mine. They made the right decision. <a href=\"https:\/\/metamaterial.com\/metamaterial-and-torchlight-sign-definitive-agreement-for-business-combination\/\" target=\"_blank\" rel=\"noreferrer noopener\">merge<\/a> Meta Materials Inc., a Canadian company that develops high-tech materials for nanocomposite products and other high-tech materials.<\/p>\n<p>Torchlight shareholders got a special, non-tradeable benefit from this merger <a href=\"https:\/\/investorplace.com\/2021\/06\/mmat-stock-meta-materials-hits-nasdaq-as-trch-stock-merger-closes\/\" target=\"_blank\" rel=\"noreferrer noopener\">dividend<\/a> These would be converted into cash when the Torchlight oil- and gas assets are sold. A total of 165,472,241 extra dividends were distributed. This is an important number. Since the stock was heavily shorted, the short positions that caused Torchlight\u2019s stock to drop to $0.20 did not close out their positions when they were supposed to. An estimated 30 million shares were missing from the market that had not been closed.\u00a0This illegal and naked shorting has only gotten worse. <\/p>\n<p>Following the approval of the SEC&#8217;s merger legal structure, Torchlight shareholders began to see a temporary non-tradeable dividend placeholder ($MMTLP). John Brda, Torchlight CEO, said that he received a call in October 2021 asking him to look into his brokerage account. Brda explains the whole situation in 48 minutes<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Everyday investors are sick of synthetic shares and naked shorts that screwed them over during the GameStop and AMC fiasco, but is it happening again?<\/p>\n","protected":false},"author":1652,"featured_media":1792430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[546],"tags":[11987,6919,10680,5311,7042,6985,6581,12278],"class_list":["post-1792427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-federalist","tag-authority","tag-federalist","tag-finance","tag-investors","tag-protecting","tag-regulatory","tag-retail","tag-supposedly"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1792427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1652"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1792427"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1792427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1792430"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1792427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1792427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1792427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}