Instead, we'll be looking at a high-potential company in the functional materials niche. Today, we won't be talking about an oil and gas company that's old news. If you're new to Meta Materials, there's a lot to unpack. Regardless, if you purchased shares at the worst possible time, then I sincerely hope that you've learned from the experience.īut if you're just learning about TRCH/MMAT stock today, or hve been sitting on the sidelines, then you might have an opportunity to buy this stock at a relatively favorable price point. 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). BY: David Moadel, InvestorPlace Contributor
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