June 28 was a significant day for anyone invested in Torchlight Energy Resources (NASDAQ:TRCH). That’s the day the company merged with Metamaterials to form Meta Materials (NASDAQ:MMAT). And as a result, TRCH stock was replaced by MMAT stock.
Similarly What happens to my torchlight stock after merger? Meta Materials shareholders are expected to own 75% of the combined company, while Torchlight shareholders get 25%. Torchlight CEO John Brda will remain with the new business combination while its oil & gas assets are disposed of.
Is TRCH a pump and dump? Introduction. We are short Torchlight Energy Resources, Inc. (TRCH) because we believe it is a classic pump-and-dump run by a questionable management team in our opinion, with some of the leadership having previous run-ins with securities regulators.
Additionally, What is TRCH new symbol?
Commencing on June 28, 2021 Torchlight’s name will be changed to « Meta Materials Inc. » and its common stock will begin trading on NASDAQ under the ticker symbol « MMAT. »
How many shares of MMAT are there?
Share Statistics
Meta Materials has 294.49 million shares outstanding.
Is MMAT overvalued? MMAT stock is overvalued based on its fundamentals and its uncertain future.
Is MMAT merger complete? The shareholders did approve the details of the acquisition. All in all, more than 98% of voters support the deal. Meta Materials will be buying all issued and outstanding shares of Nanotech stock for a set price of $1.25 per share as a part of the merger. Ultimately, the deal is worth over $70 million.
Why is MMAT up? Shares of Meta Materials ( MMAT -4.69% ) jumped on Monday with no news from the company. The move likely came because of an attempted short squeeze from retail investors. The stock was up as much as 40.2% on Monday and currently is up 17.2% as of 11:37 a.m. EDT.
Are pump and dumps illegal crypto?
In a largely unregulated investment market, things can get even trickier. While pump-and-dump schemes are illegal in the stock market, regulations for crypto are still developing, so fraudsters are seizing the opportunity to see what they can get away with.
How do you spot a pump and dump before it happens?
Is BNGO a pump and dump?
BNGO stock has suffered at the hands of a Ritalin-using pump and dump scheme making waves in 2021.
Will TRCH reverse split? Torchlight Energy Resources, Inc. (TRCH) has announced a 1-for-2 reverse stock split and a name, symbol, CUSIP change. As a result of the reverse stock split and underlying changes, each TRCH Common Share will be converted into the right to receive 0.5 (New) Meta Materials Inc. (MMAT) Common Shares.
What happens TRCH options?
The TRCH component of the TRCH1 deliverable will settle through National Securities Clearing Corporation (NSCC). OCC will delay settlement of the Series A Preferred Share component of the TRCH1 deliverable until the trading status of Series A Preferred Shares is determined.
What is TRXC?
Asensus Surgical , Inc. (NYSE American: TRXC) (formerly TransEnterix, Inc.), a medical device company that is digitizing the interface between the surgeon and patient to pioneer a new era of Performance-Guided…
Does MMAT have a dividend? There is no dividend history available for MMAT. This usually means that the stock has never paid a dividend.
Who owns MMAT stock? Top 10 Owners of Meta Materials Inc
| Stockholder | Stake | Shares owned |
|---|---|---|
| SSgA Funds Management, Inc. | 6.17% | 17,584,762 |
| BlackRock Fund Advisors | 4.46% | 12,687,361 |
| The Vanguard Group, Inc. | 1.68% | 4,786,041 |
| Geode Capital Management LLC | 1.34% | 3,822,648 |
Why is MMAT stock up?
Shares of Meta Materials ( MMAT -3.87% ) jumped on Monday with no news from the company. The move likely came because of an attempted short squeeze from retail investors. The stock was up as much as 40.2% on Monday and currently is up 17.2% as of 11:37 a.m. EDT.
Will Meta stock go up? Analysts predict Meta Platforms’ earnings will contract by 10% in 2022 to $12.49 per share, given some of the abovementioned challenges. But that’s expected to reverse quickly, with a return to growth in 2023 that should leapfrog its 2021 earnings result.
Is Meta Material profitable?
Quality Earnings: MMAT is currently unprofitable. Growing Profit Margin: MMAT is currently unprofitable.
What is MMAT price prediction? Meta Materials Inc (NASDAQ:MMAT)
The 1 analysts offering 12-month price forecasts for Meta Materials Inc have a median target of 3.50, with a high estimate of 3.50 and a low estimate of 3.50. The median estimate represents a +135.69% increase from the last price of 1.49.
