Torchlight Energy has traded as high as $10.88 and as low as 21 cents over a 52-week period.Īt last check Wednesday, the stock was down 24.01% at $5.32. Price Action: Torchlight Energy shares closed 29.4% lower in Tuesday’s trading session at $7.00. The company’s shares hit a new 52-week high of $10.88 on Monday after it announced an agreement to extend the date to close its business combination with Metamaterial Inc. Torchlight Energy is among the companies that are seeing high interest on Reddit’s r/WallStreetBets forum. The offering was raised from $100 million to $250 million. Why It Matters: Shares of Torchlight Energy tumbled more than 29% in Tuesday’s trading session after the oil and gas producer announced an amendment to its at-the-market offering deal with Roth Capital. “I am actually a believer in meme stocks that have raised money because then they’re better,” the television personality said. What Happened: Cramer noted on CNBC’s “Mad Money Lightning Round” Tuesday that Torchlight Energy had huge volume and it has raised money.
(NASDAQ: TRCH) is a “meme stock” that is better because it has raised money. NBC host Jim Cramer said Torchlight Energy Resources Inc. The oil and gas exploration company was the top trending stock on Stocktwits at publication time. The extension was put in place to provide time for the record and payment dates of the special stock dividend to occur. On Monday, the stock hit a 52-week high after the two companies announced an agreement to extend the date by which Torchlight Energy and Metamaterial must close their business combination transaction to June 30. Torchlight Energy surged over the last week as investors anticipate its upcoming merger with Metamaterial Inc MMATF 13.6%. The company announced an amendment to its at-the-market offering deal with Roth Capital in which the offering was raised from $100 million to $250 million. Posted JFiled under TT News by Jonathon Walker Torchlight Energy Resources Inc TRCH 25.07% continues to trade lower Wednesday.
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