There has been plenty disagreement in the MMTLP community recently regarding the Next Bridge trading scenario introduced by Andrew.
While this is only a proposal and nothing official from the two parties that would need to initiate and approve it (Next Bridge, FINRA), it certainly has created a lot of drama online.
On Sunday a discussion of this proposal lead by Andrew and hosted by Kurtis was recorded. The space call with John Brda recording can be accessed here. As of this posting, over 5,000 people have listened to the call.
During the call, John Brda gave his only two resolutions he sees as viable for MMTLP:
- Settlement from Next Bridge with Broker/Dealers and/or FINRA. This would not involve any trading but seems unlikely based on available share count and Next Bridge’s feeling toward helping the shorts.
- Next Bridge trades. John admitted that it would be unlikely that MMTLP could trade again since the ticker has been deleted. But he did recognize that it is possible that Next Bridge could temporarily trade. However, he had many legitimate words of caution on why this shouldn’t happen. All of these involve the fact that FINRA can not be trusted.
John admitted that any type of trading with Next Bridge would have to be seriously monitored and regulated beforehand to avoid the typical FINRA dishonest business practices they are so famous for.
It is the opinion of MMTLP Resources that if this type of trading were to occur, it would need to be negotiated fully in advance through attorneys and preferably a court order laying out the guardrails and guidelines of the entire temporary trading, close only, force send to AST actions. There would have to be consequences for any deviation. Would FINRA ever agree to this? Highly unlikely.
Also discussed in the space call was the meeting with Congress and FINRA on May 26th. Read more here.