TRCH : 4.95 (+4.21) Torchlight and Metamaterial to Participate in the 33rd Annual ROTH Conference AccessWire - Wed Mar 10, 2021. (NASDAQ:TRCH), an oil and gas exploration company ('Torchlight'), announced today that it is continuing to work towards the completion. What this post suggests is that hedge fund managers are going to do their best to drive the price of Meta Material down in order to minimize the amount the funds would lose from having to cover their short positions by actually buying the stock. PLANO, TX / ACCESSWIRE / Ma/ Torchlight Energy Resources, Inc. ?Īs of June 15, some 15.3 million Torchlight shares were sold short, nearly a third of the company’s total float. This is not financial advice and i’m not a financial advisor. We know they have to cover, why give them any discounts. Today could be the start of a squeeze but be sure as are going to try and shake out as many people as they can before they fully cover. We are dealing with the Devil’s who manipulate the markets everyday to their advantage. That could happen, but we won’t know for a while yet.Ī post on Reddit’s r/TRCH group outlines the conspiracy: We’ve noted before that the total value of those assets is likely less than $100 million and the payout per share based on that value would be less than $1.00 per share. Real-time trade and investing ideas on Torchlight Energy Resources TRCH from the largest community of traders and investors. It was predictable because the only thing propping up Torchlight stock to begin with was an expected payout to former shareholders in the company who would benefit from the sale of Torchlight’s oil and gas assets. The stock is trading down about 2.5% at $9.65 in the premarket session.ĭepending on whom you ask, the lower share price was either predictable or a conspiracy. Torchlight stock closed at $4.95 a share Friday, and Meta Material stock was assigned a value of $9.90 prior to Monday’s opening. The new company, Meta Materials Inc., will begin trading on the Nasdaq after Monday’s opening bell under the ticker symbol MMAT. EST Monday, Torchlight ceased to exist and its reverse merger with Canada-based Metamaterials was completed. Real-time trade and investing ideas on Torchlight Energy Resources TRCH from the largest community of traders and investors. At the same time, it announced a reverse stock split of 1 share of new common stock in Torchlight for every 2 old shares.Īt 12:01 a.m.
Torchlight stocks series#
If you like the idea of investing in Metamaterial as a company, you should probably just wait until the deal is consummated, assuming that this eventually happens, of course.After markets closed on Friday, Torchlight Energy announced that it had paid shareholders its promised special dividend of one share of Series A preferred stock for each share of Torchlight common stock. It is probably best to view Torchlight as a special situation play at this point, something that most investors would likely be better off avoiding. While there are several reasons behind the stock’s recent surge, the one very. This is a rather complex merger with a very unique purpose. Torchlight Energy stock rose by 20.3 percent on March 11 and is marching higher in pre-market trading on March 12. However, the longer the delay the more time investors have to worry about just such an outcome - which helps explain why each delay brings with it a stock sell-off. Stock futures rise modestly ahead of testimony from Federal Reserve Chairman Jerome Powell Bitcoin falls to below 32,000 Torchlight Energy extends record. Both Torchlight and Metamaterial are still working together to get this over the finish line, so the deal doesn't appear to be in danger of unraveling. At this point, Torchlight appears to be awaiting Securities and Exchange Commission (SEC) approval of needed documents. Looking to buy Torchlight Energy Resources stock View todays TRCH stock price, trade commission-free, and discuss TRCH stock updates with the investor.
![torchlight stocks torchlight stocks](https://i.ytimg.com/vi/3rWBpqqHm1g/maxresdefault.jpg)
This morning marked the latest update, pushing key dates off into the future. But have you heard of a company called Torchlight Energy Resources (.
![torchlight stocks torchlight stocks](https://techstory.in/wp-content/uploads/2021/06/19021.png)
![torchlight stocks torchlight stocks](https://thumbs.dreamstime.com/z/black-torchlight-strap-white-background-30967899.jpg)
The problem is that the merger was expected to be completed by now but has been delayed multiple times. These big companies trade on the Nasdaq stock exchange, the home to technology stocks.