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. Both services provide access to historical market data across stocks, options, indices, futures and currencies. □Īs of June 15, some 15.3 million Torchlight shares were sold short, nearly a third of the company’s total float. Torchlight Energy (TRCH) Help Go To: Barchart also offers extensive historical data through Barchart Excel and via API through Barchart OnDemand (Web Services). 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. 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. Not an offer or recommendation by Stocktwits. 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 Energy Resources (TRCH) Stock Price Today, News, Quotes, FAQs and Fundamentals DIA 0.16 SPY 0.24 QQQ 52.12 GDC 395.60 PACW 7.98 SNTG 174.11 COIN 7.64 FSR 8.85 JPM 2.21 NNOX 55.16 TGTX 23.88 More Advertisement 3rd Party Ad. 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. 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. 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.
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