Torchlight said last week it would raise $100 million by selling its shares, following in the footsteps of other beneficiaries of meme stock rallies such as GameStop Corp and AMC. The stock also had a short interest of 24.7% of freefloat, data from analytics company Ortex showed. The two stocks are up around 960% and 2560% year-to-date, respectively.ĭata from brokerage Fidelity showed Torchlight was the second most traded stock on its platform on Friday, with buy orders outnumbering sell 1.6-to-1. Shares of GameStop were recently down around 7%, while AMC's were off by 5%. Rallies in video game retailer GameStop (GME.N) and AMC Entertainment Holdings (AMC.N) have in recent weeks helped reinvigorate a meme stock craze that began at the start of the year, fueled in-part by retail investors congregating on platforms such as Reddit’s WallStreetBets. I don't think there's investors like hedge funds or mutual funds saying we've got to invest in this," said Dennis Dick, head of markets structure and proprietary trader at Bright Trading LLC. Stock Price & Overview 10.9K followers 0.18 -0.0099 ( -5.20) 11:04 AM 04/27/23 NASDAQ USD Realtime News Transcripts Warning: 390 stocks in the Information Technology sector are at high. “I think it’s social media driven once again. Message volumes on Stocktwits related to Torchlight rose 26%, with nearly 98% reflecting positive sentiment toward the oil and gas explorer's shares on Monday afternoon. Torchlight was among the most discussed stock on trading-focused social media site Stocktwits, a platform commonly seen as a measure of interest from retail investors. The company, which is being bought by industrial materials maker Metamaterial Inc (MMAT.CD), last week announced an agreement for sales of up to $100 million of its shares and a special dividend of preferred stock to be issued to shareholders of record as of market close on June 24.
#Torchlight energy stock forecast update
It was Torchlight's busiest trading day on record. Torchlight Energy Resources (NASDAQ: TRCH) stock is on the rise today after providing an update to investors about its merger plans with Metamaterial. The oil and gas producer’s shares were recently up 59% at $9.97, with more than 360 million changing hands, making it the most heavily traded stock U.S. Stock futures rise modestly ahead of testimony from Federal Reserve Chairman Jerome Powell Bitcoin falls to below 32,000 Torchlight Energy extends record. June 21 (Reuters) - Shares of Torchlight Energy Inc (TRCH.O) rose as much as 74% to a record high of $10.88 on Monday as it became one of the latest companies to grab the attention of retail investors. Today Were going to take a quick look at the stock torchlight energy, ticker symbol (TRCH), we look at the analyst forecast, the latest news from the company.
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