Category: Investing (Page 1 of 8)

Mullen Class 1 EVs Have Been Spotted at RMA Group

Market News Daily - Mullen Class 1 EVs Have Been Spotted at RMA Group.
Market News Daily – Mullen Class 1 EVs Have Been Spotted at RMA Group.

Mullen Automotive (NASDAQ:MULN) Class 1 EV cargo vans have been spotted at Randy Marion Automotive Group.

The company said in an official report that the delivery of 6,000 EVs would take place by the end of March 2023.

The $200 million purchase order rumor has come true.

Now investors are waiting for official confirmation of the delivery from the company or CEO soon.

Several Mullen Class 1 EV cargo vans have been spotted at a Randy Marion Automotive dealership this week.

“When I went to RM on 3/23, I counted 34 Mullen & 133 Elms on the lot public has access to. There is another lot that public cannot get into (not sure if there are any over there), said a user on Twitter.

Market News Daily – Mullen Class 1 EVs Have Been Spotted at RMA Group.

Skeptics have doubted this deal would ever go through but in this video, we see Mullen Class 1 EV cargo vans on Randy Marion Automotive’s public parking lot.

As of Feb. 28, 2023, Mullen has $87,400,009 of cash and cash equivalents, including restricted cash, and Mullen expects to receive an additional $110 million from firm commitments by June 1, 2023.

“I believe we have all the pieces in place between our product, factories, and strategic expertise to execute on our plans to deliver our Class 1 and Class 3 vehicles this year,” said David Michery, CEO and chairman of Mullen Automotive.

“Furthermore, we continue to invest and move at a fast clip with the Mullen FIVE program, which will soon be approaching vehicle engineering freeze, allowing us to move into the next phase of the crossover program.”

Will MULN Stock Recover?

MULN stock is up more than +13% on Wednesday morning.

Shareholders have grown quite weary of the declining share price despite several positive developments.

The company recently won license for IP and exclusive distribution rights in North and South American markets for the Qiantu K50/DragonFLY.

“This agreement with Qiantu is an important milestone for the company, said Mullen’s CEO and Chairman David Michery, adding that “since day one, we have received overwhelming positive feedback for this vehicle, including our original debut at the 2019 New York Auto Show and the Indy 500 in May 2019.

We are excited to start the GT and GTRS programs on March 20, 2023.”

According to sources, Mullen Automotive will work to re-engineer the product to meet U.S. standards with final assembly in Mishawka, Indiana.

The EV supercar will be rebranded and refreshed to sell under the Mullen GT & GTRS brands with expected performance specs of 0-60 MPH in 1.95 seconds and a top speed over 200 MPH.

The stock should recover as these positive developments and updates start taking physical form.

The CEO has hinted at issuing a reverse stock split should the company fail to meet the Nasdaq $1 bid requirement by September this year.

Market News Published Daily

Market News Today - Is Amazon buying AMC Entertainment?
Market News Today – Mullen Class 1 EVs Have Been Spotted at RMA Group.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


MMTLP Investors Want Their Two Trading Days Back

Market News Daily - MMTLP Investors Want Their Two Trading Days Back.
Market News Daily – MMTLP Investors Want Their Two Trading Days Back.

#IWantMy2Days is circulating on social media as MMTLP investors demand for the two trading days FINRA abolished when it delisted the ticker in December.

Shareholders are also requesting the self-regulatory organization releases their blue sheets, data files which contain both trading and account holder information and provide regulatory agencies with the ability to analyze a firm’s trading activity.

MMTLP investors have also begun reaching out to the Oversight Committee, which is in charge of ensuring the efficiency, effectiveness, and accountability of the federal government and all its agencies.

Shareholders are stating that the Oversight Committee is aware of what’s happened with MMTLP but are refusing to speak more on it.

There are no answers to whether the Oversight Committee will take any action yet but investors who have reached out have said that the committees are very well aware of the events.

Now former CEO John Brda of Torchlight, which merged with Meta Materials in 2021 says Subpoenas will go out.

Though we have yet to receive an official update on these actions today.

What Happened with MMTLP?

Investors who held shares of MMTLP stock on the record date of December 12 would receive a preferred dividend of Next Bridge Hydrocarbon on Wednesday, December the 14th.

Investors anticipated a long-awaited MMTLP short squeeze during the last few trading days prior to the spinoff — primarily due to big buying volume flooding the market to receive Next Bridge Hydrocarbon shares.

However, MMTLP stock stopped trading on Thursday, December 8 after FINRA delisted the security without notice or warning.

Now shareholders are demanding FINRA reinstate trading of MMTLP stock for the Friday and Monday the regulator abolished trading without notice.

The MMTLP scandal has been deemed one of the biggest Wall Street frauds in recent history.

Tens of thousands of shareholders lost their entire savings and retirement money in a flash without warning.

FINRA responded to investors affected by the aftermath but only acknowledged the events without providing retail investors with a proper solution.

MMTLP shareholders say they want their two trading days back — giving them with the opportunity to at the very least take their money out from the security.

A Strong Message from John Brda

If you’ve been following the MMTLP story, you’ve seen me publish this response from John during a space call I was invited to speak in.

I wanted to know John’s thoughts on whether he thinks there will be some sort of justice or solution for shareholders, or whether he thinks FINRA will simply try to dismiss the event without taking any real accountability.

Here’s what he had to say:

“What’s interesting is that we’re going to find out one way or another, whether we have to do it through the court system or whether congress is going to effectuate change in a way that they can.

We’re going to find out, we’re not gonna stop in this effort so, we have what we believe are, if we end up filing suit in that manner, we have what we believe are basically bulletproof items that will survive motion to dismiss, and then the discovery process starts.

And then discovery is a wide-open door for us to understand actually who all the bad actors are, you know broker dealers involved, market makers, hedge funds, FINRA, DTCC, everybody; everybody’s gonna get subpoenaed for their information.

So, no I don’t believe it’s gonna go away and no I don’t believe it’s gonna be swept under the rug.

We’re hitting this from both angles, through congress and through the court system and we’re not going away — it’s just not gonna happen”, said John Brda.

A special thanks to the MMTLP community

I’d like to give a special thanks to everyone in the MMTLP community who has supported my journalism in the wake of exposing their story.

And a big shoutout to BusyBrands, Ham, Pedro, Terryz, and Meta News.

🤝

Market News Published Daily

Market News Today - MMTLP Investors Want Their Two Trading Days Back.
Market News Today – MMTLP Investors Want Their Two Trading Days Back.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


AMC CEO Says Data Sources Are Under Review for Accuracy

Market News Daily - AMC CEO Says Data Sources Are Under Review for Accuracy.
Market News Daily – AMC CEO Says Data Sources Are Under Review for Accuracy.

AMC CEO Adam Aron says data sources are under review for accuracy after several sources, including MarketWatch, were reporting the company’s equity APE (NYSE:APE) having a 93.79 billion market cap.

That’s more than 20 times its ‘accurate’ 4.60 billion market cap reported by Yahoo Finance.

“Market Watch currently showing 93.79 billion APEs outstanding. Clearly WRONG, wildly so. We are calling them now demanding this get corrected immediately. Also reviewing many other data sources to check for accuracy. So curse-word-here irresponsible that they publish false info,” said the CEO on Twitter.

Screenshots of other wild reports have surfaced on social media, which has angered the CEO.

Adam Aron has previously shown a dislike for market manipulation talks, urging investors to focus on AMC’s fundamentals instead.

But it seems the market might just expose itself to Adam like it did to others, such as Roger Hamilton of Genius Group and Patrick Byrne of Overstock.

The CEO said, “many Twitter reports to me indicating 9.3 trillion APEs are outstanding or we have a $409 billion market cap. Clearly both WRONG. Either a data service inexcusably is in error or someone criminally photoshopped bogus numbers. To the extent possible, we’ll aggressively chase this.”

Will these discrepancies lead AMC CEO Adam Aron into the rabbit hole of market manipulation or naked shorting?

Many shareholders are certainly hoping so.

Recent AMC Stock Manipulation News

Earlier in March, Adam Aron announced that the company has contacted both FINRA and the NYSE to look closely at the trading of their stock.

“Many of you, and we, are aware that AMC Entertainment has been on ‘The Threshold List‘ for 3+ weeks, indicating a number of FTDs.

Some of you may be pleased to learn that we have contacted both FINRA and the NYSE asking that they both look closely at the trading of our stock.”

AMC failure-to-delivers (FTDs) have been begun to rise again.

FTDs topped 6.8 million in February (non-cumulative), amounting to more than $36 million in failed to close orders.

The data is still being reported which means there’s a possibility we may see higher FTDs once February’s entire month has been processed.

Adam Aron nor AMC have released a formal document confirming the claims reaching out to the NYSE or FINRA.

FTDs, or Failure-to-deliver occurs when one party in a trading contract (whether it’s shares, futures, or options) fails to deliver on their obligations.

These failures derive due to buyers not having enough money to take delivery and pay for the transaction at settlement.

In the case of sellers, it means not having the goods to meet that transaction.

Failure-to-delivers can occur in options trading or when selling short naked, per Investopedia.

Market News Published Daily

Market News Today - AMC CEO Says Data Sources Are Under Review for Accuracy.
Market News Today – AMC CEO Says Data Sources Are Under Review for Accuracy.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


MMTLP Investors Now Reaching Out to Oversight Committee

MMTLP Oversight Committee
Market News Today – MMTLP Investors Now Reaching Out to Oversight Committee.

MMTLP investors are now reaching out to the Oversight Committee as well as the Financial Service and Senate Committee to make a collective stance on the events that occurred just months ago when FINRA froze trading and delisted the ticker.

Investors who held shares of MMTLP stock on the record date of December 12 would receive a preferred dividend of Next Bridge Hydrocarbon on Wednesday, December the 14th.

Investors anticipated a long-awaited MMTLP short squeeze during the last few trading days prior to the spinoff — primarily due to big buying volume flooding the market to receive Next Bridge Hydrocarbon shares.

However, MMTLP stock stopped trading on Thursday, December 8 after FINRA delisted the security without notice or warning.

FINRA released a public FAQ on the issue last week, but only acknowledged the events that occurred rather than provide shareholders with a solution or direct answer to the whereabouts of their missing stock.

“Remember, the way this works is everyone contacts their own reps, then they all convene behind the scenes with their staff and determine who is going to run with this because it is a big deal. This IS with the oversight committee and they are on it!”, said John Brda.

John Brda Says Subpoenas Are Going Out

“What’s interesting is that we’re going to find out one way or another, whether we have to do it through the court system or whether congress is going to effectuate change in a way that they can.

We’re going to find out, we’re not gonna stop in this effort so, we have what we believe are, if we end up filing suit in that manner, we have what we believe are basically bulletproof items that will survive motion to dismiss, and then the discovery process starts.

And then discovery is a wide-open door for us to understand actually who all the bad actors are, you know broker dealers involved, market makers, hedge funds, FINRA, DTCC, everybody; everybody’s gonna get subpoenaed for their information.

So, no I don’t believe it’s gonna go away and no I don’t believe it’s gonna be swept under the rug.

We’re hitting this from both angles, through congress and through the court system and we’re not going away — it’s just not gonna happen”, said John Brda in a space call.

What Are the Committees Saying about MMTLP?

Shareholders are stating that the Oversight Committee is aware of what’s happened with MMTLP but are refusing to speak more on it.

There are no answers to whether the Oversight Committee will take any action yet but investors who have reached out have said that the committees are very well aware of the events.

The purpose of the Oversight Committee is to ensure the efficiency, effectiveness, and accountability of the federal government and all its agencies.

“We provide a check and balance on the role and power of Washington – and a voice to the people it serves.”

As more investors reach out to the committee, the more pressure is placed on government to hold the culprits behind the MMTLP scandal accountable.

Oversight Committee Number: (202) 225-5074.

This is a developing story — receive updates on MMTLP and other market news via the newsletter or social media platforms below.

Market News Published Daily

Market News Today - MMTLP Investors Now Reaching Out to Oversight Committee.
Market News Today – MMTLP Investors Now Reaching Out to Oversight Committee.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


MULN Stock Continues to Drop Despite Positive Developments

Why is MULN Stock Dropping?
Market News Daily: Why is MULN stock dropping?

Mullen Automotive (NASDAQ:MULN) stock continues to fall despite several positive developments happening with the company.

MULN shares fell to $0.10 on Thursday, closing at $0.11.

Prices have slid more than -22% in the past trading week and more than -64% this year-to-date after shares rose in January from $0.32 to $0.44.

Today’s trading marked the company’s new 52-week low.

The latest developments in Mullen Automotive have been very positive for the company, but prices have continued to tumble.

This week, Mullen Automotive received the distribution rights to their K50 Dragonfly EV supercar.

Shares momentarily rose 2.5% before coming back down.

The company won license for IP and exclusive distribution rights in North and South American markets for the Qiantu K50/DragonFLY.

“This agreement with Qiantu is an important milestone for the company, said Mullen’s CEO and Chairman David Michery, adding that “since day one, we have received overwhelming positive feedback for this vehicle, including our original debut at the 2019 New York Auto Show and the Indy 500 in May 2019.

We are excited to start the GT and GTRS programs on March 20, 2023.”

Mullen Automotive will work to re-engineer the product to meet U.S. standards with final assembly in Mishawka, Indiana.

The EV supercar will be rebranded and refreshed to sell under the Mullen GT & GTRS brands with expected performance specs of 0-60 MPH in 1.95 seconds and a top speed over 200 MPH.

Other Positive MULN Stock News

Positive MULN stock news.
Positive MULN stock news.

Just last week, Mullen Automotive confirmed the delivery of 6,000 Class 1 EV cargo vans valued at $200 million by the end of March 2023.

Mullen Automotive CEO David Michery released the official statement on the company’s website — a positive development shareholders have been waiting for since December of 2022.

The company also reported in their statement that as of Feb. 28, 2023, Mullen has $87,400,009 of cash and cash equivalents, including restricted cash, and Mullen expects to receive an additional $110 million from firm commitments by June 1, 2023.

“I believe we have all the pieces in place between our product, factories, and strategic expertise to execute on our plans to deliver our Class 1 and Class 3 vehicles this year,” said David Michery, CEO and chairman of Mullen Automotive.

“Furthermore, we continue to invest and move at a fast clip with the Mullen FIVE program, which will soon be approaching vehicle engineering freeze, allowing us to move into the next phase of the crossover program.”

In December, Mullen Automotive received a $200 million purchase order for 6,000 of its Class 1 EV cargo vans by RMA group.

Randy Marion Automotive Group is one of the largest and most respected commercial vehicle dealer groups in the U.S.

“We see a tremendous opportunity with the Mullen commercial portfolio, and the launch of the commercial van could not come at a better time,” said Randy Marion, CEO and founder of RMA. “There’s significant pent-up customer demand for Mullen to fulfill. I have many customers looking at me to find product for their companies.”

Why is MULN Stock Dropping?

With all of these positive developments in Mullen Automotive, why is MULN stock dropping?

Afterall, investor sentiment remains bullish.

Since the beginning of the year, we’ve seen call options dominate put options in the derivatives market indicating bullish bets.

New retail investors have even flocked to buy shares of the company due to several positive developments in the company.

So, why is MULN stock dropping?

Investors of the company believe Mullen Automotive has become a target of naked short selling, a manipulative strategy that allows market makers and hedge funds to short a stock without actually borrowing the stock from a lender.

Aside from positive news and bullish sentiment among investors, MULN stock has seen a massive increase in FTDs this year, another indication of naked short selling in a stock.

MULN FTDs.

FTDs, or Failure-to-deliver occurs when one party in a trading contract (whether it’s shares, futures, or options) fails to deliver on their obligations.

These failures derive due to buyers not having enough money to take delivery and pay for the transaction at settlement.

In the case of sellers, it means not having the goods to meet that transaction.

Market News Published Daily

Market News Today - Why is MULN stock dropping?
Market News Today – Why is MULN stock dropping?

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


AMC Entertainment Gets $1bn Boost in Movie Titles from Apple

Market News Daily - AMC Entertainment gets a $1 billion boost in movie titles from Apple.
Market News Daily – AMC Entertainment gets a $1 billion boost in movie titles from Apple.

AMC Entertainment (NYSE:AMC) will finally get a boost in new movie titles as Apple prepares to spend $1 billion per year in theatrical releases.

CEO Adam Aron has said on a few occasions that AMC Entertainment’s potential is essentially capped by the number of titles being released each year.

AMC Entertainment is the largest movie theatre chain in the world.

It was able to survive the pandemic and remain the industry leader after millions of investors saved the company from bankruptcy when the company stock was purchased en masse to squeeze short sellers.

The company was able to raise billions of dollars and continues to raise hundreds of millions today as it makes way for profitability again.

Apple’s investment is part of the tech company’s efforts to raise its profile in Hollywood and lure subscribers to its streaming service, Apple TV+, Bloomberg reported, citing people familiar with the matter.

Apple has released films directly to its streaming platform or allowed limited runs in a small number of theaters for Academy Award eligibility.

The commitment to longer theatrical releases is a way for the company to appease talent, who want their projects on the big screen, and drum up awareness for its streaming platform, which is estimated to have between 20 million and 40 million users, much smaller than rivals Netflix and Disney +.

But Apple isn’t the only big company contributing to the movie theatre industry.

Amazon to Contribute $1bn Annually to Movie Theatre Industry

In November of 2022, Bloomberg reported that Amazon was also planning to invest $1 billion per year in the movie theatre industry, aiming to release anywhere between 12-15 movie titles per year.

That number of releases puts Amazon on par with major studios such as Paramount Pictures.

Now, Amazon Studios has its first-ever original movie debuting in theatres globally on April 5th, 2023.

AIR tells the story of the game-changing partnership between Nike and a then-rookie named Michael Jordan.

This is the largest commitment to the movie theatre industry by an internet company, says Bloomberg.

CNBC commented:

“While a $1 billion annual investment for film development is on the lower end of what major Hollywood studios spend each year, it’s a positive sign for the movie theater business, which has struggled in the wake of the pandemic.”

The Wall Street narrative that the movie theatres are dead no longer seem to hold weight.

And the rumors of Amazon going into the movie theatre industry are no longer rumors.

Apple joining the movie theatre industry seems to only reinforce and secure the future of AMC Entertainment.

Movie Theatres Are Essential for The Entertainment Industry

Market News Daily - AMC Entertainment to get a boost in movie titles from Apple.
Market News Daily – AMC Entertainment to get a boost in movie titles from Apple.

Big leaders in the entertainment industry have realized that they require the theatrical experience to grow their businesses.

There was an incident with Netflix where the company missed out on more than $200 million from taking Glass Onion: A Knives Out Mystery starring Daniel Craig out from the movie theatres too early.

The film earned $15 million at the box office but CNBC says the showing could have made $200 million if it had been kept in theatres longer.

Box office analysts say Glass Onion could have earned much higher earnings if Netflix had opted for a traditional wide release of 2,000 to 4,000 theaters.

CNBC stated, “Netflix has backtracked on its previous policies, including by introducing an ad-supported subscription option, leading many to wonder whether the company should rethink its resistance to the traditional Hollywood movie release model as it looks for new ways to grow revenue.

Amazon and Apple’s move to invest billions of dollars in the movie theatre industry is going to be a game changer for AMC Entertainment, as well as other cinemas in the industry.

But I’m curious to hear your thoughts on what’s happening today with AMC.

Leave a comment down below and share this story.

Market News Published Daily

Market News Today - AMC Entertainment to get a boost in movie titles from Apple.
Market News Today – AMC Entertainment gets a $1 billion boost in movie titles from Apple.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


Is GTII Lawsuit a Catalyst for a Short Squeeze?

GTII Short Squeeze
Market News Daily: Is GTII lawsuit a catalyst for a short squeeze?

Global Tech Industries Group, Inc. (OTCMKTS:GTII) announced today that the lawsuit previously filed by the Company in the United States District Court in the Southern District of New York has officially been served on all Defendants, including Canaccord Genuity LLC, Credit Suisse Securities, (USA) LLC, Instinet LLC, Lime Trading Corporation and GTS Securities, LLC.

The Company looks forward to its day in court, the filing said.

In February, the company took legal action against naked shorts.

The Nevada corporation announced that its board of directors had authorized management to move forward with appropriate legal action in connection with what it believes to be illegal trading activity in the Company’s shares.

As the Company previously disclosed, it has retained the legal teams of Christian Levine Law Group, LLC, (“Levine”) and Warshaw Burstein, LLP, (“Warshaw”), both of whom have specific expertise in stock fraud litigation, to handle the legal actions for the Company.

The legal actions may be directed at broker-dealers, market makers and other relevant parties the Company believes have been engaged in illegal trading activities that have resulted in a significant number of unsettled trades involving the Company’s shares.

It appears that certain market makers have failed to post regular or continuous proprietary quotations that are at or near the market on both sides and that are communicated and represented such that they are widely accessible to investors and other broker-dealers.

When market makers fail to meet this requirement, as well as other applicable requirements, it can bring into question whether they are engaging in “bona fide market making” and can avail themselves to any “locate” exemptions afforded to bona fide market makers when executing short sales, per Global Newswire.

The legal action comes after Genius Group CEO Roger Hamilton urged CEOs to fight against naked shorts, the illegal practice of shorting stock without owning or having to return the shares back to a lender.

GTII Shareholders Embrace for a Short Squeeze

Global Tech Industries shareholders anticipate the lawsuit will lead Alpine and short sellers to close out their naked shorts.

“The #1 sign of a naked short in trouble is they can’t let a stock trade higher”, says HAM, an activist and retail investor.

GTII shareholders are predicting the stock to soar several tens to hundreds and even thousands of dollars per share based on the magnitude of this naked short event.

Shares of the company are up more than 85% this year-to-date.

Will GTII stock squeeze as high as HKD stock when shares rose from $13 to more than $2.5K per share?

If massive buying pressure in the form of ‘buybacks’ from short positions closing occur, there’s no telling just how high GTII stock may go.

OTC Short Report shows big short volume coming into Global Tech Industries.

GTII Naked Short Interest, GTII Short Volume
GTII naked short interest – GTII short volume: OTC Short Report.

We’re seeing heavy 50%-60% short volume days with some days nearing 70% in March alone.

If the GTII lawsuit can force Alpine and other short sellers to close their naked (illegal) shorts, the event will be historic.

The last time a company stood up to naked short selling, the company and CEO were ridiculed but eventually received a settlement to fly under the radar — some of you might be familiar with Overstock and Patrick Byrne.

Today, large communities of retail investors are backing up companies willing to fight naked short selling in a court of law.

Only time will tell what will happen next.

Market News Published Daily

Market News Today - Can the SEC suspend dark pools?
Market News Today – Is a GTII lawsuit a catalyst for a short squeeze?

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


Mullen Gains Distribution Rights to K50 Dragonfly

Market News Daily: Mullen gains distribution rights to K50 Dragonfly supercar.
Market News Daily: Mullen gains distribution rights to K50 Dragonfly supercar.

Mullen Automotive (NASDAQ:MULN) has gained distribution rights to their K50 Dragonfly EV supercar.

Shares of the automaker have risen more than 2.5% on Tuesday.

What’s happening with Mullen Automotive today?

The company won license for IP and exclusive distribution rights in North and South American markets for the Qiantu K50/DragonFLY, per SeekingAlpha.

This is big and positive news for Mullen; will we finally begin to see shares of the company grow in value?

“This agreement with Qiantu is an important milestone for the company, said Mullen’s CEO and Chairman David Michery, adding that “since day one, we have received overwhelming positive feedback for this vehicle, including our original debut at the 2019 New York Auto Show and the Indy 500 in May 2019.

We are excited to start the GT and GTRS programs on March 20, 2023.”

According to sources, Mullen Automotive will work to re-engineer the product to meet U.S. standards with final assembly in Mishawka, Indiana.

The EV supercar will be rebranded and refreshed to sell under the Mullen GT & GTRS brands with expected performance specs of 0-60 MPH in 1.95 seconds and a top speed over 200 MPH.

An Incredible Development for MULN

Market News Daily: Mullen gains distribution rights to K50 Dragonfly supercar.

One of the biggest takeaways from what’s happening with Mullen Automotive today is that the company continues to move forward, despite falling share prices.

Is this company a sleeper?

The company’s plans to already begin production in Indiana to meet U.S. standards is a big steppingstone for the company.

Skeptics have criticized Mullen for not having any cars on the road yet, but the company has taken some steps forward to doing just that.

In February, the company partnered with Menzies Aviation in a 60-day pilot program that will evaluate the Class 1 electric vehicle cargo vans in several use cases across its operations at LAX.

Menzies Aviation is the world’s largest aviation service company and it’s looking for innovative solutions to support its ambitious goal of becoming carbon neutral by 2033.

Menzies has a global fleet of 27,000 ground service equipment, including over 8,000 vehicles, at 250-plus airports worldwide and is committed to switching to electric wherever possible to reduce emissions in line with its sustainability strategy. 

Mullen Automotive confirmed just last week the delivery for 6,000 Class 1 EV cargo vans will be taken place end of March, valued at $200 million.

Are these positive developments in Mullen Automotive enough to send shares skyrocketing this year?

I’d love to hear your thoughts below.

Market News Published Daily

Market News Daily: Mullen gains distribution rights to K50 Dragonfly supercar.
Market News Daily: Mullen gains distribution rights to K50 Dragonfly supercar.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


Credit Suisse Receives New $17 Billion in Write-offs

Market News Daily: Credit Suisse receives news $17 Billion in write-offs.
Market News Daily: Credit Suisse receives news $17 Billion in write-offs.

(Reuters) Credit Suisse said 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS, angering bondholders.

FINMA, the Swiss regulator, said the decision would bolster the bank’s capital.

The central bank also helped by providing 100 billion Swiss francs ($108 billion) in liquidity assistance.

The move reflects authorities’ desire to see private investors share the pain from Credit Suisse’s troubles.

Chair Marlene Amstad said FINMA had stuck to the country’s “too-big-to-fail” banking framework in making the decision.

It means bondholders appear to be left with nothing while shareholders, who sit below bonds in the priority ladder for repayment in a bankruptcy process, will receive $3.23 billion under the UBS deal.

“It’s stunning and hard to understand how they can reverse the hierarchy between AT1 holders and shareholders,” said Jerome Legras, head of research at Axiom Alternative Investments, an investor in Credit Suisse’s AT1 debt.

Reuters reported earlier on Sunday that Swiss authorities were considering imposing losses on bondholders as part of the rescue deal.

UBS’ CEO Ralph Hamers told analysts that the decision to write down the AT1 bonds to zero was taken by FINMA, so it would not create a liability for the bank.

How Did Credit Suisse Collapse?

Market News Daily: Credit Suisse receives news $17 Billion in write-offs.
Market News Daily: Credit Suisse receives news $17 Billion in write-offs.

Credit Suisse (NYSE:CS) has gone through financial difficulties many times since its inception but has been bailed throughout its history.

“A string of scandals over many years, top management changes, multi-billion dollar losses and an uninspiring strategy can be blamed for the mess that the 167-year-old Swiss lender now finds itself in”, says Reuters.

Chairman Axel Lehmann is blaming the banks collapse on retail investors.

In an interview in Switzerland, the Chairman says “last autumn we had a social media storm” and highlights the changing environment in the market.

“Last autumn we had a social media storm and this had huge repercussions, more in the retail sector than in the wholesale sector, and too much becomes too much.

And that’s when we reached this point, it’s an accumulation of various facts that contributed to one another then materialized at some point. And this then caused the situation.”

Axel Lehmann also said they were affected by a model that “no longer works in this market environment.”

Should There Be a Limit to How Many Times a Bank Can Get Bailed Out?

The fed said in 2021 that ‘meme stocks’ pose risks to financial stability, something retail investors voiced as the most absurd thing our body of government could conclude.

Overleveraged hedge funds, infinite capital from banks, and complicit regulators have been the main cause of systemic risk.

We’re beginning to see the retail crowd become a scapegoat for our financial system’s failures — though this isn’t going to last long.

The ‘it’s retail’s fault’ card won’t carry weight in lawful request for accountability.

This card was used during the ‘meme stock’ frenzy as well when Robinhood, Citadel, and other brokerages halted trading.

Retail investors were blamed but the truth is there was a massive liquidity problem and short sellers could not afford to close their naked shorts.

The only solution was to halt trading, take short positions again, and wait for prices to fall in order to make up losses.

Regulators waived billions in collateral, bailing institutions out of a massive mess.

More and more investors are losing trust in the financial system.

Now that Credit Suisse has escaped with $17 billion in write-off, it’s now more evident that certain institutions truly are too big to fail.

But I’d love to hear your thoughts on this – leave a comment down below.

Related: “The Game is Rigged” Says Ex-Citadel Data Scientist

Market News Published Daily

Market News Daily: Credit Suisse receives news $17 Billion in write-offs.
Market News Daily: Credit Suisse receives news $17 Billion in write-offs.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.

My New Book is Out Now! Use Code: THENEZ


Credit Suisse Chairman Blames Collapse on Retail Investors

Credit Suisse Chairman Blames Collapse on Retail Investors
Market News Daily: Credit Suisse Chairman blames collapse on retail investors.

Credit Suisse (NYSE:CS) Chairman Axel Lehmann is blaming the banks collapse on retail investors.

In an interview in Switzerland, the Chairman says “last autumn we had a social media storm” and highlights the changing environment in the market.

“Last autumn we had a social media storm and this had huge repercussions, more in the retail sector than in the wholesale sector, and too much becomes too much. And that’s when we reached this point, it’s an accumulation of various facts that contributed to one another then materialized at some point. And this then caused the situation.”

UBS has agreed to buy Credit Suisse, its beleaguered rival, the Swiss government said on Sunday, in a hastily arranged deal meant to shore up the global financial sector after a week of turmoil.

Swiss government leaders and regulators said that the deal was the most effective way of reassuring investors after Credit Suisse’s shares tumbled following the implosion of Silicon Valley Bank earlier this month.

One of the sources cautioned that the talks to resolve the crisis of confidence in Credit Suisse are encountering significant obstacles, and 10,000 jobs may have to be cut if the two banks combine.

In November, the bank had warned investors in a 6-K filing of potential losses due to naked short covering — a topic retail investors have been urging the SEC to look into.

The 167-year-old Credit Suisse is the biggest name involved in the turmoil unleashed by the collapse of US lenders Silicon Valley Bank and Signature Bank over the past week.

During the collapse of SVB, we also saw Wall Street banks lose more than $55 billion in just one day alone.

Retail Investors Mock Credit Suisse

Market News Daily: Credit Suisse Chairman blames collapse on retail investors.

Credit Suisse shares have fallen below AMC’s price target of $0.95 — the share price the bank’s stock is currently trading at.

Retail investors are mocking Credit Suisse for its attempt to short and distort AMC Entertainment just months before its troubles.

Now Credit Suisse Chairman Axel Lehmann is blaming retail investors for the bank’s failures.

“We were affected by a model that no longer works in this market environment, and many clients have been very loyal for a very long time.

Last Autum we had a social media storm, and this had huge repercussions.”

But credit Suisse clients have been withdrawing billions of dollars in the past months.

“The unusual intervention by the U.S regulator is the latest blow to Credit Suisse as it attempts to rebuild investor confidence after a series of scandals and setbacks that have sent its shares plunging and led clients to withdraw billions” says Reuters.

Market News Published Daily

Market News Daily: Credit Suisse Chairman blames collapse on retail investors.
Market News Daily: Credit Suisse Chairman blames collapse on retail investors.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.

My New Book is Out Now! Use Code: THENEZ


« Older posts

© 2023 Franknez.com

Theme by Anders NorenUp ↑