🚀Īs of June 15, some 15.3 million Torchlight shares were sold short, nearly a third of the company’s total float. Shares of Torchlight Energy Resources Inc gave up premarket gains to trade down more than 8 on Tuesday, after the oil and gas producer raised its share offering to 250 million to take advantage. 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. The distribution of shares of common stock of Next Bridge Hydrocarbons (NBH), or the spin-off, was completed on December 14, 2022. 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. Shares of energy company Torchlight Energy Resources fell as much as 28 in the first 90 minutes of trading on June 23. 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. The stock is trading down about 2.5% at $9.65 in the premarket session.Äepending on whom you ask, the lower share price was either predictable or a conspiracy. 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. Moreover, its P/B of 18.39X compares to the industry average of 2.12X.
Torchlight energy stock forecast series#
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. Torchlight is currently trading at 466.37 times its sales versus the industry average of 2.27X.
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