And certainly the company's high short float has drawn squeeze interest. Nevertheless, I suspect that Reddit users may have had an influence a little cursory Internet reconnaissance shows posts about the stock on various investing subreddits stretching back to the start of the year. I can't definitively prove that meme-stock traders were responsible for this spike-and-slide. TRCH/MMAT stock took a round trip from $3.64 on May 13 to $21.76 on June 21, before driving back down to $3.63 by July 16. This company serves as a textbook example. If your timing isn't perfect, you'll quickly lose money. TRCH stock offers a harsh but valuable lesson about buying during phases of market mania: chasing stocks after they've gone vertical is a difficult game to win. It's quite an adjustment to make, but no worries - I'll gladly guide you through it all. So investors need to factor in a new stock ticker, a radically different company and a wild pop-and-drop in the share price. However, that cycle of hype and disappointment has already come and gone. The meme-stock crowd apparently targeted TRCH stock prior to the merger, resulting in a massive price spike. Whereas Torchlight Energy Resources was an oil and gas exploration company operating out of Texas, Meta Materials develops functional materials and nanocomposites. It's a huge change that goes deeper than stock tickers. And as a result, TRCH stock was replaced by MMAT stock. That's the day the company merged with Metamaterials to form Meta Materials (NASDAQ: MMAT). June 28 was a significant day for anyone invested in Torchlight Energy Resources (NASDAQ: TRCH). His Substack newsletter, TLV Strategist, covers the Israel business scene.BY: David Moadel, InvestorPlace Contributor InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. He took up this role in December 2012 after the departure of co-founder Tom Lapinski.The company is led by its president, CEO, secretary, and director John Brda.It joined the public market in November 2010 after completing its initial public offering (IPO).Torchlight Energy was founded in October 2007.TRCH currently has projects underway in the Midland Basin, Orogrande Basin, and the Delaware Basin.It holds interests in Texas, including the Permian Basin and the Eagle Ford Shale.The company’s main focus is on the “acquisition and development of highly profitable domestic oil fields.”.It has a total of four full-time employees. Torchlight Energy is an oil and gas exploration and production company based out of Plano, Texas.Keeping that in mind, here’s what potential investors in TRCH stock need to know about the company before they invest. The company also said it expects the Metamaterial transaction to close before the end of the month. Meanwhile, more on the fundamental side, Torchlight late yesterday declared a special dividend of Series A Preferred Stock, to be issued on a one-for-0ne basis to common stock holders on June 24. Under terms of the deal, Metamaterial shareholders are expected to own 75% of the combined company, while Torchlight shareholders get 25%. Torchlight announced Friday that its shareholders have approved the deal. Stoking some of the chat is a merger announcement on June 11 regarding Torchlight and Metamaterial (OTCMKTS: MMATF), which makes advanced materials. TRCH stock emerged as the third-most mentioned name in the Stocktwits chatroom yesterday, Bloomberg reported yesterday morning. As seems to be the case with many pre-market movers these days, there are both fundamental reasons and social media chatter underlying the trending ticker on the oil and gas producer.
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