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Tuesday, November 29, 2022

Meta Materials Inc (OTCMKTS: MMTLP) Short Squeeze Rockets to New Highs as S1 Privatization Looms (Next Bridge Hydrocarbons Spin Off)

Meta Materials Inc (OTCMKTS: MMTLP) has rocketed past $7.51 highs and is now in all out blue sky breakout! Updates from Rollerpigeons, Terry Yonkers, and MarketMoves below. On Wednesday there was a short-lived short attack at the close which failed to drop the stock below $6 and just 24 hours later MMTLP came back and took out the wall of sell orders at $7.50. For the massive short position, the walls are starting to close in.

As we stated in our last article “Once the S1 is approved the estimated 80 million share short position must cover within the next 15 days, and if they don’t cover their broker will cover the shares for them. When that happens and the brokers are just dumping stuff as Houston Wade pointed out, “we will see, perhaps, just astronomical prices” Regardless for 80 million shares to be covered we will see a very, very significant increase in trading volume and ultimately the brokers will pay whatever price they have to, to close out the position. Should a significant short squeeze happen once the S-1 is approved, $30 to $60 per share is the most common estimate on MMTLP but there is always the chance it does an HKD.  

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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 exclusively developing its Orogrande Basin asset, the Orogrande Project, located in West Texas. The Orogrande Project has shown to have potential for multi-stack pay zone, totaling 600 to 800 feet thick, with geologic and reservoir similarities to the Midland Basin. 134,000 Net Acres, 3,150 Potential Well Locations and 3.2B potential Recovery (BBL)   

Rollerpigeons stated: “MMTLP had a very exciting morning and as I’m making this, I guess there is a short attack and the stock price goes down. If you try to play the dip it might get away from you.  MMTLP had a very exciting morning this morning and I have been receiving some messages from people who have gotten calls from various brokers about what they are going to do with their shares in MMTLP…But four people have messaged me from various realms of social media saying they were contacted by brokers wanting to know their shares. Ok in terms of brokerages that have called so far, TD has called 2 people, Charles Schwab and contacted 1 person and Fidelity has contact one person has of right now. All these calls so far have a running them; basically, they call you up and they say hey we noticed you have a significant amount of MMTLP there, what are you planning to do with all those shares. I think this may be a way to solicit if people want to sell shares.” She asked listeners to post in the comments if they had received any calls from their brokers on MMTLP and a number of people had posting comments such as: btwbrand commented: “TD did call me Oct 21st at 2:39 PM Est from a Charlotte NC office. Number on cell showed as their Charlotte branch number you can find on their google page. Asked what I was doing with my MMTLP and I told them I would hold it as I have been doing for nearly a year.”   

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Terry Yonkers could not stop laughing and said: “Oh man does that not put a smile on my face. They finally did it guys, it took them 12 days to finally get one red day of MMTLP and boy oh boy did they pick the perfect timing. I’m just so excited to share this information in today’s video because these shorts, these hedgies are so pathetic, it just makes me laugh…but look at this guys, if you take a look here at google trends because things are looking up, as you can see here, October 23rd to the 29th we had a 69% hit here number on the MMTLP search. Now we are waiting to see the updated numbers from November 30 due the first week of November so we will keep an eye on this. As you know we are waiting on the S1 to drop.” Terry made another important point that searches and interest have risen dramatically over the past 2 week increasing by at least 69% over the period.

MarketMoves summarized what is going on saying: “If you are not familiar with MMTLP it’s a spinoff of some oil and gas assets that are currently being spun out as a result of a merger between 2 companies. One of those Companies is Torchlight Energy, they have some oil and gas assets in west Texas called the Oragrande project, there’s about 3.2 billion barrels of oil in the ground as of the last time they gave an estimate, it could more. There’s a 49% revenue sharing agreement, its near El Paso Texas, there are 2 pipelines in the area. This is what’s known as private land in Texas, you don’t need a federal lease to drill for oil…MMTLP is being spun out as Next Bridge Hydrocarbons and the spinoff is currently in progress right now.” He goes on to say “I have another video that talks about amendment number 3 for which there were very few changes (from amendment number 2) so as a result we are thinking maybe, hopefully very soon we will get approval from the SEC... We also have some drilling updates, currently we are up to 7 drill permits.

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MMTLP just broke through previous highs and $7.51 resistance point and could be ready for a move here as we wait for the S1 to be approved. MMTLP is the number #1 trending short squeeze on the sub reddit: Shortsqueeze. While MMTLP certainly has its detractors the stock closed grean 12 days straight before Wednesday’s failed short attack and has just rocketed past previous highs. MMTLP has a very loyal following that swears this one goes way higher. We will be updating on MMTLP when anything new happens so make sur and looe 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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