The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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I suggest everyone contacts the following email regarding their MDAI shares.
Spectral AI website confirms conversion ratio of 10.3 to 1
cstmail@continentalstock.com.
How do I get my shares of MDAI after completion of the de-SPAC Transaction?
MDAI retained Continental Stock Transfer & Trust Company as its transfer agent for its shares. Each shareholder of record will receive 1 share of MDAI stock in exchange for 10.31 shares of SMD.
If you have questions regarding receiving your MDAI shares, please contact Continental Stock Transfer & Trust Company at 212.509.4000 or 800.509.5586 or email cstmail@continentalstock.com.
https://investors.spectral-ai.com/ir-resources/faqs
Yes, feels like this company is still very much under the radar of most investors. Once the Institutions start coming in the Stock price will start to accelerate upwards very nicely. Although, I'd still like to think that it will initially take a big leap upwards once this shorting nonsense is over with / resolved. It's good to see Wensheng at these events and hopefully Spectral AI will be put on the map in due course.
I read up on Naked Shorting. I think it’s more about the massive financial institutions rather than a tiny $50 million business. Not sure the reward would be worth the risk given the small amount of shares traded each day and subsequent volatility.
Personally I think this share needs some big institutional investors, which is why we moved to Nasdaq in the first place. Very happy he’s at a KPMG event today, but until there are plenty of shares available for institutions to buy, we’re staying here
Spectral AI has to step up to the plate and report the naked shorting to the SEC and identify the brokers suspected and complain about them.
Not that the SEC cares about naked shorting since they allow it to go on. But at least the company itself needs to show that it is doing something about it.
Found the agenda, probably not on until 9 tonight
https://techonomy.com/event/accelerate-health-pioneering-solutions/
Anyone see this?
There is a record for normal shorting but not naked shorting as it shouldn’t be taking place
Is there a record of the shorts anywhere?
I see on Stocktwits, Jimzi mentioning t35 for the short sellers (next Tuesday). I assume that is the amount of time that the short seller has to purchase shares within the clearing window mentioned below (I was trying to educate myself on the theory of naked short selling). So the shorts need our shares, but we know the value of the company plus we are we are well down anyway, so best to hold.
What will happen if they fail to purchase and deliver the shares (FTD)? Any ideas what the shorts will do between now and t35 / will there be an epic squeeze?
“Naked short selling is the illegal practice of short selling shares that the investor never actually obtained. Naked short sellers collect money by selling unavailable or non-existent shares. They hope that shares will become available before the end of the clearing window so that they can actually purchase those shares and close out their short before the initial sale is even finalized.
Naked short selling can go very wrong in a number of ways and end up harming the unsuspecting person on the other side of the trade, which is why it’s banned in the U.S. The naked short seller may fail to purchase shares within the clearing window, or they may be forced to close their short trade by a margin call before they get hold of the shares.
That can cause a failure-to-deliver, in which the person on the other side of the trade essentially gets swindled — they pay money for shares without either receiving those shares or getting their money back”.
Finally received my shares at Halifax Share Dealing. It’s been a blessing in disguise as I might have been tempted to bail but like all good shaftings…you get used to the pain eventually!
Can only sit on these and wait for the mess to clear - currently £12k adrift so I’m trying to remain hopeful.
They don't know about it? But definitely being suppressed in price. No shares yet either from AJ Bell or HL
100% agree! AIM are practically saints compared to these NYSE cowboys.
At least on AIM when a company gets many good news RNS its sp eventually goes up (even if there are some shenanigans by MMs)
In the US there are no RNS, and naked shorting is rampant. Totally unregulated. I didn't realise it was this bad.
A excellent company wins $100's of millions of government contracts and its value gets hammered to 1/3.
We got fed to the sharks.
Scum... unbelievable scum. We would have been better off keeping it with AIM. Totally miss managed or was this always the plan.. most likely. Scum bags
Looks like the scum are still naked shorting it.
This twitter post, not sure how up to date the figures are.
IG won’t give shares. I wonder how many brokers still haven’t delivered shares.
Other twitter posts think its no coincidence there was 8 mil volume day before HL delivered shares.
Totally disgusting, even AIM isn’t this bad.
https://x.com/mbinvest/status/1710311749486883010?s=46&t=yUTJGSNLbmKe3EKlY1ZKsA
There’s defo enough liquidity it trades on average about 1-2 million dollars a day! It mostly likely cuz it’s an American stock Lloyds say it has to be passed over to their international partner so cant offer a instant price
The question I'm asking myself is, if this stock has fallen to levels so low they would have been beyond the comprehension of most, why are people now not buying this stock hand over fist now? At $3, when this should be double digits easily.
So I picked up a few more shares a couple of days ago. I don't want to sell, but noticed that I couldn't sell even if I wanted to. The broker tells me there is not enough liquidity to sell (even a few hundred £ worth). Is that a good thing? Although i could do it over the phone. Because I'm thinking about buying more, but don't understand the full dynamics of what is happening right now, so not fully trusting of the situation, whereas I do think this price is a gift at the same time.
Yep American company basically keeping the shares until shorts are fully closed
Just spoke to IG. They are waiting for CITI group to deliver the shares.
So no surprise there, they are covering their backs and letting the naked shorters exit at a nice profit.
They are all in on it, thick as thieves.
I think the fact a lot can’t sell until 10 trading days above $12 I’d see us being there within next 6 months
I think the company knew what was going on and now I think we’ll see a lot of PR in the coming months
Thank you, Brooko19. In view of your comments re ROSCLF, how do you see the future share price for UK shareholders? I am confused totally about what is going on.
I’d imagine mostly all of the naked shorting is finished now, rumour is that it was citadel who was doing the naked shorting they are holders of ROSCLF so now hold MDAI would have been well informed therefore of what was happening and they received so large fines for naked shorting so have form
In theory shorts should have been pushed out now which is good. As to a gap up, we need volume and movement in the right direction.. it won't happen over night but positive over the next few weeks we will see upwards growth of some magnitude. I really wish they delayed the contract news though to next week but hey ho. The company is just getting starting on its PR in the USA so its only up from here.. you'll see 10 dollars in no time I'm sure.
Thanks. Starting to make sense. So are the majority of shorts out now since Tuesday or more days like that expected?
Also, people mention a "gap up" once we break through certain thresholds?
Hopefully that will take this stock price to quickly to where it should be.
It was deliberate but I’m with Lloyds and I got mine yesterday so the hold up now must be with your broker
The high volume Tuesday was the closing of the shorts as they knew we was getting our shares so had to replace them they used our shares to dump