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AJ Bell update this morning. "There is currently a delay in issuance of DRS statements by the American transfer agent. Once received, the statements will be deposited with our overseas custodian, and then cross-boarded into the CREST system to allow electronic trading. As a result, there is currently a delay in the ability to trade the new shares until this process has completed."
Can't help thinking if this was set up to be deliberately slow.
Of course it's deliberate.. from the research I've gathered. Yes naked shorting my have taken place however, with the delay (deliberately) from UK shareholders shares being issued, shorts have been able to borrow our shares. All makes sense. Wouldn't surprise me if they have oversold shares right now (our shares) and hence needed a placing to pay us back.
Cheers, that's a good explanation. Still trying to get my head around this trading stuff. That makes sense what you say.
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
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.
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.
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
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 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
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.
Yep American company basically keeping the shares until shorts are fully closed
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.
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.
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
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
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
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.
They don't know about it? But definitely being suppressed in price. No shares yet either from AJ Bell or HL