Torchlight Energy Resources effectively no longer exists following its June 28 merger with Meta Materials (NASDAQ: MMAT) stock. The news of a dividend payment, a reverse stock split of TRCH stock, and the business combination were enough to spike interest throughout June.
Why did torchlight energy stock fall 18% on April 16?
Jun 29, 2021 · Torchlight now exists under the new name Metamaterials and a new stock ticker symbol (MMAT)—a change that became effective on June 28. The company's metamaterials business is a departure from...
What happened to Torchlight Technology Inc (trch)?
Jun 21, 2021 · What happened Shares of Torchlight Energy Resources (NASDAQ: TRCH) soared 58% on Monday after the oil and gas driller extended the closing date of its merger with advanced materials manufacturer...
Why is Torchlight energy resources a meme stock?
Jun 23, 2021 · What happened Shares of energy company Torchlight Energy Resources (NASDAQ: TRCH) fell as much as 28% in the first 90 minutes of trading on June 23. That follows on losses of around 25% from the ...
Is Torchlight energy's dividend a window into a company's Soul?
Jun 17, 2021 · What happened Shares of energy driller Torchlight Energy Resources (NASDAQ: TRCH) fell as much as 19% in morning trading on June 17. By around noon EDT the stock had clawed back some of those ...
What happened to my torch light stock?
Commencing on June 28, 2021 Torchlight's name will be changed to "Meta Materials Inc." and its common stock will begin trading on NASDAQ under the ticker symbol "MMAT." Prior to the implementation of the reverse stock split, it was expected that Metamaterial, Inc.Jun 25, 2021
Is Torchlight stock worth buying?
Is Torchlight Energy Resources stock A Buy? Torchlight Energy Resources holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Mar 15, 2022
Who bought Torchlight?
Meta Materials Inc.(NASDAQ: TRCH) Closes $1.9 Billion Merger with Meta Materials Inc. (NASDAQ: MMAT) Torchlight Energy Resources (NASDAQ: TRCH), an oil and gas exploration company based in Plano, Texas, has closed on its previously announced business combination with Meta Materials Inc.Jul 21, 2021
What will happen to Torchlight stock after merger?
Meta Materials shareholders are expected to own 75% of the combined company, while Torchlight shareholders get 25%. Torchlight CEO John Brda will remain with the new business combination while its oil & gas assets are disposed of.Jul 14, 2021
Why is torchlight stock going up?
Shares of Torchlight Energy Resources ( TRCH ) soared 58% on Monday after the oil and gas driller extended the closing date of its merger with advanced materials manufacturer Metamaterial.Jun 21, 2021
Is meta material a good stock?
Meta Materials Inc (MMAT) is near the top in its industry group according to InvestorsObserver. MMAT gets an overall rating of 56. That means it scores higher than 56 percent of stocks. Meta Materials Inc gets a 73 rank in the Electronic Components industry.Jan 10, 2022
How much is torch dividend?
Investors that are wondering how much the dividend will payout still don't have any concrete details. However, analysts are expecting to range from anywhere between $1 per share and $20 per share. That's a massive range for the special merger dividend that investors will have to hold out for.Jun 21, 2021
Why is meta materials stock down?
What happened. Shares of Meta Materials ( MMAT -3.87% ), a developer of materials for use in various high-tech applications, plunged after the company reported earnings on Wednesday morning.Mar 2, 2022
What is torchlight on Reddit?
Some of these traders are hoping to ignite a short squeeze by driving up the stock's price and forcing short-sellers to exit their positions. Their goal is to cause so much pain for short-sellers that they rush to buy back the shares they shorted, which could help accelerate the steep rise in the stock's price.
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What happened
Shares of exploration and production company Torchlight Energy ( TRCH ) fell a quick 18% when trading opened on April 16. The big news was an after-the-close update on April 15 discussing the U.S. energy company's complex merger agreement with Canada's Metameterial ( MMAT.F ) .
So what
The deal between Torchlight and Metamaterial isn't your typical merger. It is, effectively, a way for Metamaterial to get a U.S. listing without having to go through an initial public offering. Indeed, as the company's name implies, it does not drill for oil and gas, but operates in the materials space.
Now what
Most investors will probably want to sit on the sidelines here given the unusual nature of the Torchlight/Metamaterial deal. The ongoing delays, meanwhile, just make the situation that much more uncertain.
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