TRCH Stock Trend Torchlight Energy Resources
Torchlight Energy Resources was an oil & gas exploration fir
June 28 was a significant day for anyone invested in Torchlight Energy Resources (NASDAQ:TRCH).
That’s the day the company merged with Metamaterials to form Meta Materials (NASDAQ:MMAT). And as a result, TRCH stock was replaced by MMAT stock.
It’s a huge change that goes deeper than stock tickers. Whereas Torchlight Energy Resources was an oil and gas exploration company operating out of Texas, Meta Materials develops functional materials and nanocomposites.
The meme-stock crowd apparently targeted TRCH stock prior to the merger, resulting in a massive price spike.
However, that cycle of hype and disappointment has already come and gone.
So investors need to factor in a new stock ticker, a radically different company and a wild pop-and-drop in the share price.
It’s quite an adjustment to make, but no worries — I’ll gladly guide you through it all.
The synergies leading to the business combination are somewhat unclear.
TRCH stock had long been considered an acquisition target. Yet the acquirer profile looked to be a larger oil E&P company.
TRCH Stock Trend Torchlight Energy Resources
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