For years, we’ve discussed the FINRA U3 Halt and how it froze MMTLP out of their investment in December 2022.
But I’ve never stopped to put a dollar figure to that loss.
I thought it was important to take a look at the figures based on my holdings of then MMTLP in both an IRA and securities account.
At MMTLP’s all-time high on November 22, 2022, my position was worth over $175,000. Just 16 days later, that value dropped to zero — without warning.
Period. Full Stop.
No matter how complicated the MMTLP story is, that fact is indisputable.
For those new to the situation: MMTLP was originally scheduled to stop trading on December 12, 2022. Instead, it was abruptly halted under a U3 designation on December 9 — with no trades allowed after December 8.
That’s over $11,000 a day I lost over those 16 days. Was I going to sell it all? Probably not. Was I going to sell some of it? Yes. Christmas was coming. And I, and 65,000 other investors were denied our right to sell without notice or warning.
Of course, this amount pales in comparison to the amount of money I technically lost when my E-Trade orders came up as TOO LATE TO CANCEL with some as high as $2,150 a share.
These orders apparently were executed and were reversed.
It’s criminal.