Some MMTLP shareholders are seeing mixed messages from their broker.
Apparently Webull is making some changes. Users are reporting their MMTLP placeholder shares, marked as MMTLPWB, may be listed as “Grey” or “Private” and some see both of those terms.
Not much help from customer service on any name clarifications when asked about the placeholder status.
But what does all this mean? Community member Eric seems to think it’s getting primed for trading.
Truth is, it’s kind of odd that different users on Webull would be seeing different messages. After MMTLP was halted in December of 2022 many shareholders speculated that brokers would be contacting their shareholders offering them a price to buy back their MMTLP shares on the “grey” market (meaning something like a “private” sale). As far as we know, none of these offers ever materialized.
Is something brewing now, 10 months later, to setup MMTLP for gray market trading? Unfortunately, we have no idea and we’ll just have to continue to monitor this and all broker listings of MMTLP for hopefully more clues.
If you are ever contacted by a dealer / broker, just note you have all the power. You don’t have to sell for $2 or even $10 a share. Know what you hold. If it comes down to simple supply and demand and the brokers come knocking, we suggest asking for a “reasonable” amount based on the Next Bridge assets, potential lifetime dividends you could receive from their asset sale (if provided with stock in another oil company) and the hardship the FINRA U3 Halt has caused you.
None of this is financial advice, we are not financial advisors, please do your own due diligence.