Tag: GTII Stocktwits

GTII Has Approved a New Stock Dividend

Market News Today - GTII Has Approved a New Stock Dividend.
Market News Daily – GTII Has Approved a New Stock Dividend.

Global Tech Industries Group, Inc. (OTCMKTS:GTII) has approved a new stock dividend according to a FINRA filing.

GTII shareholders will receive one (1) restricted common share for every 10 shares held as of record.

The record date is filed for April 15 and the payment date is set for April 29.

GTII stock rose more than +4% on Thursday with shares being up nearly +20% in the past 5-trading days, and more than +40% this year-to-date.

Shareholders on social media are celebrating the approval of the new GTII stock dividend.

Now investors are embracing for the high probability of a GTII short squeeze.

In March, we saw heavy 50%-60% short volume days with some days nearing 70%, so we know Global Tech Industries is heavily shorted.

Will this stock dividend trigger a squeeze, and if so, how high will GTII stock go?

Shareholders are predicting the stock to soar several tens to hundreds of dollars with other more optimistic investors estimating GTII to reach thousands per share like we saw with HKD stock in the past.

Massive buying pressure in the form of ‘buybacks’ from short positions closing may result in big price moves for GTII, though there is no way to pre-determine an exact peak.

Recent GTII Stock News

Global Tech Industries Group, Inc.  announced in late March 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.

Today, there is an ongoing war against naked shorting in the markets, as we’ve seen with Roger Hamilton’s Genius Group (GNS) and the MMTLP community.

GTII as of date has been one of the first companies to challenge naked short selling this decade in a court of law — this is a developing story.

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Market News Today - GTII Has Approved a New Stock Dividend.
Market News Today – GTII Has Approved a New Stock Dividend.

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GNS CEO Shares Petition to End Naked Shorting

Naked Shorting Petition
Market News: GNS CEO shares naked shorting petition.

Genius Group (NYSEAMERICAN:GNS) CEO shared a petition to end naked shorting on Twitter.

$GNS CEO Roger Hamilton is leading a movement created by retail investors to fight naked short selling.

The CEO said on Twitter that other CEOs $NWBO, $GTII, $MICT, $COSM, $CRTD, $MMTLP, $TRCH, are taking legal action with Wes Christian, a lawyer who has been investigating stock manipulation since 2000.

Earlier this month, Global Tech Industries Group (OTCMKTS:GTII) took legal action against naked shorts.

“They’re predators. They’re doing something illegal, and we want it to stop”, says GNS CEO Roger Hamilton.

The CEO shared a petition from Change.org on Tuesday to stop illegal naked shorting.

More than 1,800 individuals have signed the petition.

Taking on Wall Street giants is going to take more than just a petition, but raising awareness is how change starts.

GNS: The Fight Against Naked Shorting

Market News: GNS CEO shares petition to end naked shorting.
Market News: GNS CEO shares petition to end naked shorting.

The Board of Directors (the “Board”) of Genius Group Limited, a leading entrepreneur edtech and education group, approved at a meeting of the Board held on Wednesday 18th January 2023, an action plan to address illegal short selling of its stock.

This action plan includes creating a Board-led ‘Illegal Trading Task Force’ to actively pursue all possible actions together with the regulators in their discovery and prosecution of persons engaging in market manipulation involving the ordinary shares of Genius Group.

This Task Force will be led by Timothy Murphy, a Genius Group Director and former Deputy Director of the F.B.I., Richard Berman, also a Genius Group Director and chair of the Company’s Audit Committee, and Roger Hamilton, the CEO of Genius Group.

The Company has been in communication with government regulatory authorities and is sharing information with these authorities to assist them.

“It’s like being robbed in a library, but you can’t shout ‘Thief!’ because there are ‘Silence, please’ signs everywhere.” – Roger Hamilton, CEO of Genius Group Limited.

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GTII Pursues Legal Action Against Naked Shorts

Market News Today: GTII, Global Tech Industries Group pursues legal action against illegal short selling activities.
Market News Today: GTII, Global Tech Industries Group pursues legal action against illegal short selling activities.

Global Tech Industries Group, Inc. (OTCMKTS:GTII) is taking legal action against naked shorts.

The Nevada corporation announced on Monday that its board of directors has 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.

In particular, 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.

GTII Naked Short Selling: What’s Happening?

Market News Today: GTII, Global Tech Industries Group pursues legal action against illegal short selling activities.
Market News Today: GTII, Global Tech Industries Group pursues legal action against illegal short selling activities. GTII Stocktwits.

Global Tech’s press release published the following statement:

“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.

Further, in a recent administrative proceeding between Alpine Securities Corporation (“Alpine”) and the National Securities Clearing Corporation (“NSCC”) before the U.S. Securities and Exchange Commission, it was disclosed that the NSCC imposed a “Backtesting Charge” against Alpine (which action was contested by Alpine) due to deficiencies in Alpine’s “Required Fund Deposit” with NSCC “. . . that were attributed to net short portfolios in several stocks, with the ‘top driver being a concentrated short position in GTII’”, which is, obviously, a cause of concern for the Company..”

Roger Hamilton (GNS CEO) on Naked Shorting

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.

GTTI: Roger Hamilton on Naked Shorts and Wall Street Fraud. GTII Stock News.

“They’re predators. They’re doing something illegal, and we want it to stop”, says GNS CEO Roger Hamilton.

The Board of Directors (the “Board”) of Genius Group Limited (NYSE American: GNS), a leading entrepreneur edtech and education group, approved at a meeting of the Board held on Wednesday 18th January 2023, an action plan to address illegal short selling of its stock.

This action plan includes creating a Board-led ‘Illegal Trading Task Force’ to actively pursue all possible actions together with the regulators in their discovery and prosecution of persons engaging in market manipulation involving the ordinary shares of Genius Group.

This Task Force will be led by Timothy Murphy, a Genius Group Director and former Deputy Director of the F.B.I., Richard Berman, also a Genius Group Director and chair of the Company’s Audit Committee, and Roger Hamilton, the CEO of Genius Group.

AMC, GME, Spark Major Interest in Market Manipulation

Market News Today: GTII, Global Tech Industries Group pursues legal action against illegal short selling activities.
Market News Today: GTII, Global Tech Industries Group pursues legal action against illegal short selling activities. GTII Stock News.

The AMC and GME communities initiated the controversial topic of naked short selling in the market during the events of the ‘meme stock’ frenzy.

Years of activism have triggered the momentum we’re seeing today in the retail community.

However, AMC and GME CEOs have stayed out of the fight against naked shorts.

AMC CEO Adam Aron has said in the past that they have not seen any ‘evidence’ of so-called synthetic shares.

Millions of retail investors holding the movie theatre stock have first-hand experienced the market manipulation, so this came off as rather appalling to most.

With GTII taking action against naked shorts, it makes you wonder; how many more companies will step up?

I’d love to hear your thoughts on this.

Leave a comment down below.

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Market News Today: GTII, Global Tech Industries Group pursues legal action against illegal short selling activities.
Global Tech Naked Shorts News: GTII, Global Tech Industries Group pursues legal action against illegal short selling activities. GTII Stock News.

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