White Diamond calls Mega Matrix ‘undiscovered short opportunity’

White Diamond Research, in a new short report, says all of Mega Matrix’s previous businesses “failed and have been abandoned, so its value is solely dependent on FlexTV.” The firm views the stock as an “undiscovered short opportunity with the annual borrow rate only about 3%.” White Diamond put a 50c annual price target on Mega Matrix shares, which it says gives the company a “generous market cap of about $20M.” Shares of Mega Matrix are down 9% to $2.55 in premarket trading.