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Seems to be moving. It was almost $3.1 pre market.
The shorts are still at it, very organised. They are making sure short volume is around 50% of all volume every day to keep it down.
But if some of the Stocktwits posts are correct they may have to let it go in December. Also it could be linked to them having to return the HL shares so they can be given to investors.
https://fintel.io/ss/us/mdai
This has to be organised, this is MMs and dealers, not individual punters
29 Nov - 54% short
28 Now - 42% short
27 Nov - 43% short
24 Nov - 40% short
22 Nov - 55% short
21 Nov - 75% short
I hope that smudgedan will not mind my posting this but on another message board he has mentioned that he has received a positive response from the Financial Ombudsman regarding his complaint against HL Invest in respect of the delay in receiving his MDAI share allocation.
Perhaps more complaints might be filed if the MDAI shares are not yet tradable or if there has been a delay not only with HL with the poor handling of this merger.
Could someone post something please.
Got mine at long last in Interactive Investors - 59% down - not a great share tip then. Maybe it might come good someday.
Great news. HL still not delivered
Love his statement. How can a company that has had $250 million of non-dilutive investment be worth anything less than $250m
I have received my shares today and hope all UK shareholders have also. I am optimistic that MDAI will go now from strength to strength and reflected, of course, in the share price.
I completely agree Watty, us poor ordinary shareholders just have to wait it out. I think its a good company hopefully in 2024 with more good news things will get back to normal.
Thank you, Medjed, for the information you have supplied; much appreciated.
iI mentioned to me several weeks' ago when I phoned them that there was no time scale on when the shares would be received.
I wish that I could take the matter further but I feel that without professional backing I just do not have the funds even to consider it. In my view, a very unsatisfactory state of affairs especially if Naked Shorters are involved. We can only wait patiently, I feel, and see how the share price performs say over the next fortnight and how it goes from there.
I got a reply from IG. No compensation (for me at least). I guess I’m just a very small player. Maybe the other customer had lawyers on the case so they had to give, who knows. It was worth a try I guess.
Here is the IG reply I got:
“ Although we are not obliged to offer compensation as a means of resolving issues experienced by clients, however, whenever a matter has been formally raised with us, it would be investigated and an appropriate settlement is determined based on the outcome of our investigation. Consequently, no compensation offer has been made at this time.
I have attached our complaints procedure for your convenience if you wish to file a formal complaint.”
Hi Watty, I haven’t heard anything more about compensation. I keep meaning to call/ chat with IG to see if I can get compensation too. I’ll try to talk to them tomorrow. Been too busy at work. I’ll let you know what they say.
That is how I see it now, Medjed.
Have you come read anywhere if compensation has been paid out to shareholders previously as I am hoping that this will be the case here with MDAI.
I think the problem is with DE-SPACS on NASDAQ. I have had a look at a few of them now they all seem to get short attacked right as they float on NASDAQ after merger. Pattern looks the same they get manipulated down to around $2 or even lower.
Lets hope MDAI is different (due to Barda) and will shake off the parasite shorters.
Lesson learned for me, never going to invest in another SPAC/DE-SPAC
Thanks for posting - have to admit there's a steep learning-curve that comes with investing in Spectral MD!!
I've had a non-committal (brush-off) response from Halifax Share Dealing on my initial approach so I'm going to wait for details to emerge on any actual compensation deals elsewhere which I can use as a reference point, rather than jumping in and peaking too early.
Https://www.sec.gov/Archives/edgar/data/1833498/000121390023089245/fs12023a1_spectral.htm
New SEC filing tonight relating to common stock issuable upon exercise of warrants along with a secondary offering.
Some earlier messages referred to the Financial Omsbudman being involved as well as the legal professional so I am just wondering if there has been anything to report in this respect.
I am with iI and still awaiting my shares though I was informed a few days' ago that iI had received them in certificate form.
Just wondering, after what I have read in the last day or two, if UK shareholders could be awarded compensation for the long delay. If so what action should be taken and how.
Did he still not get his shares yet with IG?
Is that why they compensated him?
I asked for compensation too, instead a week later they gave me my shares. My holding is very small maybe that’s why. Who knows.
There's reference to this on Stocktwits with a suggestion that compensation of 1.6 x share price at the time of merger, and keep the shares. If anyone has any info it would be great to share so we're not all starting from scratch. I'm going to register a claim with Halifax Share Dealing and will post anything useful.
Same said on Stockwits about IG. HL still not released shares. Anyone else waiting? HL not very responsive at times
Some guy on The Hive telegram groups reckons he’s received compenation from IG.
Two very interesting and thought provokingcontributions from Nilnvestor and Medjed - thank you.
I hope that the management and investor relations at Spectral are aware fully of the inconvenience the long delay - now over 2 months - for the majority of UK shareholders, I believe, to receive their shares, including myself. In my view this does not show the Company in good light , is highly unsatisfactory and a degree of negligence in planning the switch to Nasdaq. Howver, I do hold the Company in a good light regardimg their future prospects.
I have purchased a few more shares today at $2.65 but am concerned about the effect of the Shorters on the share price, especially the Naked Shorters. I have no idea what percentage of shares they have an interest in and how it will affect the share price in the short/ medium term. Let us hope that they disappear before too long after which I am sure that we shall see the share price return to a more realistic level.
I’m not very knowledgeable about shorting either.
I don’t think its normal shorting at play here because the borrow fee is 400% I doubt they could make a profit with such a high interest rate even if the sp went really low from here.
The problem is naked shorts who don’t pay a borrow fee since they didn’t borrow the shares in the first place and can’t even locate them!
These dirty thieves seem to have many tricks and loopholes to use to keep rolling their naked position forward and would only pay a fine if the SEC bothers to investigate them.
Good article here, apologies I posted it before.
https://prospect.org/power/gamestop-mess-exposes-the-naked-short-selling-scam/
Despite this I’m still not selling. If the government is supporting MDAI and wants it to succeed surely these naked shorts have to get lost eventually.
I'm not too knowledgeable about shorting, but I take my cue on that sort of stuff from Jimzi on stocktwits. So apparently at the minute the shorts have to close some time around end of November. They know that as the price rises any profits they have will be eroded and with shorting there is the potential for them to lose infinitely. So they continue to try to take the price down to scare those current stockholders into selling as there are very few shares available, so that they buy, return those shares and can get out, but they are struggling to do so.
Personally I put most of my money in pre-merger and have bought a bit more around the $3 mark. I will definitely be holding long term. I thought it was a bargain at around breakeven for me which is around $6 and believe this should go well into double figures. I look at many companies and this really stood out for me with the unique product, patents and large addressable markets, zero debt and backed by the US Govt. I'm feeling surprisingly confident despite the shorting.
Sometimes it's hard to see the price fall to these levels and it creates uncertainty. That's what the shorts want. I've read that investors like Buffett invest in companies as if stock market doesn't exist ie. their decision is purposefully detached from the stock price working on the principle that in the short run the market is a voting machine and in the long run it is a weighing machine. Spectral AI should already be double figures and shows so much promise to build further on that, so for me it will be a long term hold, but also feel that it won't be long before it at least doubles if not triples from here. (Hopefully in late November we'll see significant upward movement).
Ps: Vince at Spectral AI investor relations replied to my earlier question about non-delivery of shares. I informed him that AJ Bell had delivered and he thought it was odd that delivery had taken so long.
As mentioned previously, I do not understand shorts. Is there a fixed date when shorters have to buyback the shares that they have already sold? Also I am trying to figure out how the share price will go when the UK shareholders receive their shares. To my way of thinking, shareholders might well hold for the time being whilst the share price is so depressed. Perhaps also they will buy more because of the depressed share price as I am thinking of doing but because I know so little about shorting I am so uncertain what to do. Any thoughts,please?