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Saturday, December 3, 2022

Meta Materials, Inc (OTCMKTS: MMTLP) Major Short Squeeze Underway (Next Bridge Hydrocarbons Spin-Off)

Meta Materials Inc (OTCMKTS: MMTLP) has been rocketing northbound in recent weeks while little else is happening in penny stock world. Its an exciting story and probably the most exciting thing happening on the OTC right now. After a healthy pullback from its $7.51 highs the WallStreetBets short squeeze is starting to heat up again over $4 and could be setting up for another wave northbound. 

WallStreetBets on Reddit made national news when Gamestop GME shares skyrocketed from the massive short squeeze that started on the forum. We reported on the AMC short squeeze which started there too stating at the time: “While Gamestop hedge funds sold GME short and made an incredibly stupid trade and lost billions while redditors on WallStreetBets, made billions. A similar situation seems to be taking place with AMC and with over 100 million shares short that do not exist but have to be covered the sky is the limit.”

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Meta Materials Inc  (OTCMKTS: MMTLP) is the placeholder for the Next Bridge Hydrocarbons Spin off from Meta Materials. One MMTLP (Series A Preferred share) will be exchanged into one Next Bridge common share once the spinoff is completed.

Next Bridge Hydrocarbons is an energy company engaged in the acquisition, exploration, exploitation and/or development of oil and natural gas properties in the United States. The Company’s primary focus has been the development of interests in an oil and gas project it holds in the Orogrande Basin in West Texas in Hudspeth County, Texas called the “Orogrande Project” comprised of leases representing approximately 134,066 net acres. In addition, Next Bridge Hydrocarbons has interests in the Eastern edge of the Midland Basin in Texas called the “Hazel Project”, comprised of leases representing 645 net acres, as well as 2 well interests in Oklahoma. 

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On the legendary WallSteetBets alfielad2021 posted: 

MMTLP – s1 amendments being agreed by The SEC, we should hear about any day now and the date of record when those shares go PRIVATE into NextBridge Hydrocarbons where there’s info coming out that they already have a BIG OIL buyer ready to buy the assets.
They have drilling rights on Private University Lands in The Orogrande Basin Texas where they have found recoverable 3.2 Billion Barrels of Oil and there is also Natural Gas. They have done drilling to confirm and they have been doing drilling in other areas and have since found more Oil & Natural Gas in different pay zones, we don’t know how much but there is potentially a lot more in areas they haven’t yet drilled.
This was the old Torchlight which was bought out by Meta Materials and they spun it out into a dividend to MMTLP which was not supposed to be traded. When it was spun out they trapped shorts because MMTLP was not supposed to be traded. MM’s started trading it anyway and the Old CEO of Torchlight who has a position in this sale has said that anybody who purchases MMTLP will still get the dividend payout which is a 1 MMTLP share for 1 NextBridge Hydrocarbons.
Once the sale is completed there is likely to be a 2nd squeeze with MMAT (Meta Materials) who will benefit with sale of most of the assets going to them – MMAT trading at $0.69c. Shorts will have 9 to 14 days until the day before the date of record to get out of their short positions, they have no choice, there cannot be any other positions open when it goes PRIVATE.”

This is what is being posted on reddit and we are not saying it’s true but it’s important to know what they are saying: William Stuart claiming to be the 2nd largest shareholder of MMTLP recently said: I am the 2nd largest shareholder and I do own 16 million shares. The oil and gas data is real. I bought 50,000 more shares last week. I am not beginning to sell until $60. He followed up with: “After a review of current short data this AM I am moving my first sale to $65 and will only sell enough shares to return my cost. Then next sale with not be til $70. I was lucky and made real money on AMC. IMO this play is backed by real data of oil and gas reserves.” 


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While MMTLP certainly has a lot of potential there is little guarantee it will turn out anything like GME, AMC or any of the other WallStreetBets short squeezes have. Elephant Analytics on SeekingAlpha wrote:I am of the opinion that MMTLP’s current price (of $6.69 per share) far exceeds the current intrinsic value of the oil and gas assets that Next Bridge will own. At $6.69 per share, Next Bridge would have a market cap of $1.1 billion, which would be an exceptionally high valuation for a company with no current production, negative free cash flow and no evidence that it can generate competitive well-level returns.While all this might be true MMTLP gave investors a glimpse of a serious powerhouse over the past 2 weeks as the stock moved steadily upwards every single day making double- and triple-digit gains along the way as the overall market where weak at best and penny stocks were on life support. There is no reason to believe there won’t be a second wave northbound based on recent trading; a break over $7.50 per share and MMTLP could really take off. We will be updating on MMTLP on a daily basis so make sure you are subscribed to microcapdaily.com

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Disclosure: we hold no position in MMTLP either long or short and we have not been compensated for this article.

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