Tag: Market News (Page 1 of 61)

A new petition to mandate supplying blue sheets to public companies has popped up on social media in the wake of the MMTLP Scandal.

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.

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

A motion was filed in April at the Supreme Court of New York by Mark Basile on behalf of an MMTLP investor requesting FINRA for MMTLP blue sheets.

Electronic Blue Sheet (EBS) data files, which contain both trading and account holder information, provide regulatory agencies with the ability to analyze a firm’s trading activity.

Firms are expected to provide complete, accurate and timely Blue Sheet data in response to regulatory requests.

Incomplete, inaccurate and untimely Blue Sheet data compromises regulators’ ability to identify individuals engaging in insider trading schemes and other fraudulent activity. 

However, FINRA is protecting the bad actors behind the MMTLP scandal in the latest MMTLP court update.

The self-regulatory body is claiming immunity and is refusing to provide retail investors with the blue sheets that shed light on the trading activity and fraud that occurred in ticker symbol MMTLP prior to the U3 halt and delisting.

Petition: Mandate Supplying Electronic Blue Sheets to Public Companies Quarterly

Christopher Binns Jr. has started a new petition to mandate supplying electronic blue sheets to public companies quarterly where more than 1,600 people have already signed.

“As a police officer, I am writing to highlight a crucial matter that impacts the integrity and transparency of our financial markets.

As a dedicated law enforcement member, concerned investor, and advocate for fair market practices, I kindly request your support in implementing a crucial measure to enhance the transparency and accountability of securities trading.

This measure is designed to take a firm stance against various forms of stock market manipulation.

These illicit activities continue to not only harm publicly traded companies but also strip hard working people of their hard earned money, and their right to a free, transparent, and fair market.

The objective of this petition is to urge the Securities and Exchange Commission (SEC), the United States Senate Committee on Banking, Housing, and Urban Affairs, the United States House Committee on Financial Services, and the Financial Industry Regulatory Authority (FINRA) to mandate the quarterly supplying of Electronic Blue Sheets to publicly traded companies, and the transfer agents they use to administer their shares of stock.

By implementing this measure, we aim to provide companies with increased transparency and empower them to monitor trading activities that directly impact their stocks.

This will enable companies to identify potential threats, such as malicious short-selling or market manipulation, and take appropriate action to protect their businesses, and its shareholders,” the petition read.

You can sign the petition here.

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 Twitter, Instagram, Facebook, or LinkedIn for daily posts.

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.

Recommended For You ✨

New Vinco Ventures (NASDAQ:BBIG) updates have investors centered on more potential lawsuits.

The company announced it had pushed back its Form 10-Q filing, a common pattern investors have seen before.

“Vinco Ventures announced receipt of a staff determination on May 18, 2023 stating that the Company failed to meet its obligations under Nasdaq Listing Rule 5810(b) because it has not yet filed its Form 10-Q for the period ended March 31, 2023.

The Company is required to file updated information with the Hearings Panel no later than May 25, 2023, regarding its scheduled plans to file this delinquent Form 10-Q.

The Company notes, in the April 14, 2023 determination letter, which it received from the Panel, its agreement to file its 10-Q by July 7, 2023 was referenced, and that the Company continues to remain confident that it will file its 10-Q by that date,” the press release read.

Vinco Ventures is focused on the development of digital media and content technologies.

Vinco Ventures’ consolidated subsidiary, ZVV Media Partners, LLC, a joint venture of Vinco Ventures and ZASH Global Media and Entertainment Corporation, has an 80% ownership interest in Lomotif Private Limited.

The company has a 100% ownership interest in AdRizer, LLC.

BBIG stock is currently down more than -75% this year-to-date.

BBIG Investors Fight BoD

In April, the BBIG community was able to raise more than $42K to fight the Board of Directors in court.

Investors have been calling the Board of Directors to step down on social media, claiming the BoD are not qualified to serve investors.

“That amendment to our articles of incorporation and addition of preferred shares without shareholders vote was illegal.

We are attempting to stop the reverse split and dilution that we believe was rammed through an illegal proxy and invalid shareholders meeting,” said Shad, an investor involved in the BBIG lawsuit.

However, Vinco Ventures announced a 1-for-20 reverse stock split in May which the company stock has already undergone.

“We wish to thank our investors for their continued support as we work to refocus Vinco’s operations.

The approval of the reverse split under the Company’s plan to maintain its Nasdaq listing, together with our ongoing refocusing efforts, better positions us to realize the great potential we see ahead,” stated James Robertson, Chief Executive Officer.

“Another missed deadline. This is why our lawsuit is so important. We can either HOPE the company delivers news and the stock price runs, or we can TAKE ACTION to recover our investment,” says one investor on social media.

For more BBIG stock news and updates, join the newsletter below.

Share this article with the retail community to raise awareness.

Read: New Data Points Towards the Possibility of a BBIG 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 Twitter, Instagram, Facebook, or LinkedIn for daily posts.

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.

Recommended For You ✨

AMC Entertainment (NYSE:AMC) CEO Adam Aron has announced the company has broken a new food and beverage sales record.

“3-3-3! After a 3-year stretch where we needed more films, happily we are 3 weeks into a 3 month period with one huge movie after another.

Apparently our guests are coming to see movies hungry and thirsty. Food/Bev sales per patron in U.S. in May — the highest month EVER for AMC!“, said the CEO on Twitter.

AMC Entertainment beat Wall Street expectations during its 2023 Q1 announcement in early May.

“Our results for the first quarter of 2023 represent AMC’s strongest first quarter in four full years.

We kicked off 2023 by continuing on our positive glide path to recovery, with more than a 21% growth in total revenues and a $69 million improvement in Adjusted EBITDA compared to the previous year.

The first quarter of 2023 and fourth quarter of 2022 mark the first two consecutive quarters of EBITDA since March of 2020.

This progress is a testament to the ongoing recovery in the industrywide box office, as well as AMC’s enduring commitment to the excellence and innovation as our guests enjoy a superb movie-going experience at our theatres,” said AMC CEO Adam Aron.

“All told, the first quarter North American box office easily surpassed 2022 by some 29%, totaling more than $1.7 billion.

The recovery in the European box office was even stronger in getting to pre-pandemic norms than that in the U.S.

As I have said for years, when our studio partners showcase their magical storytelling, there is robust demand to be realized at AMC theatres both in the U.S. and abroad.

We believe the first quarter of 2023 is just the tip of the iceberg for what’s to come in the remainder of the year,” he continued.

Latest AMC Entertainment News

AMC Entertainment has embarked in a new partnership with the streaming platform Vudu.

Four years after AMC Theatres launched its on-demand streaming service, AMC Theatres On Demand, the company is now transferring its entire library of films over to Vudu, the Fandango-owned digital video on-demand service.

Vudu announced Thursday that it’s the official new streaming destination for AMC Theatres On Demand, giving users access to over 200,000 movies and TV shows, including the latest hit titles like “The Super Mario Bros. Movie,” “John Wick: Chapter 4,” “Dungeons & Dragons: Honor Among Thieves,” “Avatar: The Way of Water” and more.

AMC Theatres On Demand users will no longer be able to watch, purchase or rent titles on the AMC Theatres On Demand apps or website.

Instead, users will have to create a Vudu account to purchase new titles as well as move over their existing AMC content library.

According to the AMC website, users have until August 31 to transfer their existing movie collection over to Vudu.

AMC Theatres On Demand users that are already on Vudu will also be able to link their accounts.

New Vudu customers get 15% off every purchase during the first month of using the service.

“Today marks a noteworthy partnership for both companies.

AMC is the largest theater chain in the U.S., with 600 theaters and approximately 200 million customers.

Vudu is among the most popular digital video on-demand services, with 60 million registered users,” says TechCrunch.

AMC stock is currently up more than +17% this year-to-date.

Read: 1 Million Investors Have Now Enrolled in AMC’s Investor Connect

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 Twitter, Instagram, Facebook, or LinkedIn for daily posts.

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.

Recommended For You ✨

FINRA plans to protect the bad actors behind the MMTLP scandal in the latest MMTLP court update.

The self-regulatory body is claiming immunity and is refusing to provide retail investors with the blue sheets that shed light on the trading activity and fraud that occurred in ticker symbol MMTLP prior to the U3 halt and delisting.

FINRA states that the petitioner’s request is ‘overbroad and unduly burdensome’, being one of the few claims to deny MMTLP investors the blue sheets.

They also state that blue sheet data may reveal the confidential trading approach of firms and their customers, and includes personal, financial, and identifying information for individual and other investors.

“Because Blue Sheet Data contains highly confidential information, FINRA does not make Blue Sheet data publicly available.

FINRA also restricts access to Blue Sheet Data collected by examination and investigations team.”

This is a massive red flag that leads the average investor to believe the self-regulatory agency must be overseen and be limited some power.

Essentially what this means is the market can have a collusion of bad actors with a common goal and never have to take accountability should a party or investigations team request to view their trading activity via Blue Sheet Data.

SEC Chairman Gary Gensler often speaks about the remarkable importance of blowing the whistle in cases like this.

FINRA is Granted Immunity in MMTLP Blue Sheet Data Request

According to the latest MMTLP court case documents, FINRA is granted absolute immunity from suit and all burdens of litigation, including discovery, “for claims arising out of its regulatory activities.”

“Because immunity precludes lawsuits against FINRA for conduct that arises from its regulatory activity, if the Petition is granted, this Court would establish precedent that would also expose FINRA — as well as other New York-based SROs like the NYSE and NASDAQ stock exchanges — to a potential deluge of pre-action disclosure requests made by disgruntled investors “fishing” for information to support potential securities lawsuits.

FINRA is making no effort to protect retail investors but rather to keep their client’s information and trading activity private.

FINRA is a legal black market where powerful institutions are able to cheat the average investor without taking accountability due to the agencies unlimited power and lack of oversight.

Transcripts surfaced in April revealing conversations between FINRA and the SEC relating to the MMTLP case last year.

“Looks like this MMAT/MMTLP matter has now hit my Fraud team’s radar screen (and seemingly a lot of other radar screens as well). I know you have spoken to Patti Casimates and our General Council’s office — but was wondering if it made sense for my Fraud team to have a conversation directly with you and your folks working on the matter so we are not duplicating efforts.

We are looking at the two issuers from a fraud/manipulation angle and, in fact, bluesheeting both MMAT and MMTLP as we speak,” said Sam Draddy to the SEC on December 5th, 2022 — just days prior the U3 halt and delisting of MMTLP.

Petition to Strip FINRA’s Absolute Immunity Status

Since the latest MMTLP court update, a petition to strip FINRA’s absolute immunity status has surfaced on social media.

“In light of FINRA’s inability to protect retail investors, as stated in their mission statement, and amidst of the concerns of illegal naked shorting, spoofing and market manipulation present in the stock market, I propose the SEC and Congress strip FINRA’s SRO status and its Absolute Immunity protection.

A regulatory body such as FINRA (or any public, private or self-regulated body for that matter) should not be able to shield itself from any form of litigation on the basis of absolute immunity.

The judicial system works only if everybody and every body has equal participation,” says the petitioner.

Nearly 1,000 people have signed the petition.

Share this article to support the retail community fighting against market injustices.

This is a developing story — you can join the newsletter below for updates and other important market news.

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 Twitter, Instagram, Facebook, or LinkedIn for daily posts.

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.

Recommended For You ✨