Metamaterial is a fascinating company in its own right. If TRCH stock declines to a price point that you feel is acceptable, then the Metamaterial merger could be a valid reason to pick up a few shares. Notably, as InvestorPlace contributor Robert Lakin explains, “Metamaterial shareholders are expected to own 75% of the combined company, while Torchlight shareholders get 25%.”Īnd as Torchlight Energy notes in the press release, starting on June 28, Torchlight changed its name to “Meta Materials Inc.” and its common stock is to trade on the Nasdaq Exchange under the ticker symbol MMAT. Reportedly, Torchlight has officially combined with Metamaterial. I already let the cat out of the bag in the introduction, but MacDonald is referring to the Metamaterial merger. To quote InvestorPlace contributor Chris MacDonald, Torchlight is “set to become a much larger entity in short order.” Now, we’ll examine a more foundational company change that might spur informed investors to take a position. So far, I’ve cited major developments that aren’t necessarily good reasons to invest in Torchlight Energy. Instead, a better strategy would be to pick a lower price point than the current price, and wait for TRCH stock to get there before taking a long position. It’s just not a good idea for most people to try to time an anticipated meme stock run-up. I’m not saying that you shouldn’t own shares of Torchlight. The stock tripled in price from June 10 to June 21, but then reversed course and plummeted. Ill-timed TRCH stock price chasers definitely got punished in June. Otherwise, you might end up buying at the wrong time and holding the bag. Unless you have the inside scoop with r/WallStreetBets influencers, I don’t recommend trying to time these meme-stock rallies. They can furiously shortsqueeze a stock one week, then abandon it the next week. That probably won’t affect you, but it’s worth noting anyway. Incidentally, Torchlight also paid a special Series A Preferred Stock dividend on a 1-for-1 basis to its stockholders of record on June 24. Reverse share splits are often a sign of a company in distress, but at least Torchlight opted for the least drastic share-split ratio. Interestingly, the 1-for-2 ratio is the lowest possible ratio that Torchlight could have implemented under the 1-to-20 range that was approved by the shareholders. This is fresh news as the reverse split became effective after the market closing on June 25. So, the share price will double but that shouldn’t materially affect the value of anyone’s currently held shares. Namely, the company announced that it has implemented a 1-for-2 reverse stock split. So far 5,678,007 shares have traded compared to average volume of 10,304,768 shares.Ĭlick Here to get the full Stock Score Report on Torchlight Energy Resources Inc (TRCH) Stock.So, let’s start with a development that’s going to affect all Torchlight investors immediately. The stock has traded between $1.83 and $2.10 so far today. Torchlight Energy Resources Inc (TRCH) stock is trading at $2.04 as of 10:16 AM on Monday, Jan 25, a rise of $0.39, or 23.64% from the previous closing price of $1.65. What's Happening With Torchlight Energy Resources Inc Stock Today? There’s no need to try to remember what is “good” for a bunch of complicated ratios, just pay attention to which numbers are the highest. A score of 100 is the top and a 0 is the bottom. Percentile-ranked scores are also easy to understand. This makes InvestorsObserver’s overall rating a great way to get started, regardless of your investing style. Our proprietary scoring system captures technical factors, fundamental analysis and the opinions of analysts on Wall Street. A score of 98 would rank higher than 98 percent of all stocks. Investors Observer allows you to choose from eight unique metrics to view the top industries and the best performing stocks in that industry. There are thousands of options and it can be confusing on what actually constitutes a great value. Searching for the best stocks to invest in can be difficult. See Full TRCH Report What do These Ratings Mean?
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