The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. And certainty could definitely be a good thing for TRCH investors right now. The stock hit its all-time high of 10.88 on. With the deal expected to close at the end of the month, investors now have certainty with this deal. Shares of oil and gas producer Torchlight Energy Resources TRCH rallied more than 200 over the past month to close the last trading session at 7.00. Additionally, the company confirmed that its preferred dividend will be paid out on June 25. Torchlight announced earlier this week the company is extending its merger combination date to June 30. Let’s dive into the reason June 30 may be a big date TRCH investors will want to mark on their calendar. The Company is primarily focused on the acquisition of early stage projects, the development and delineation of these projects, and. At least, according to what the market believes it’s worth. The Company is engaged in the acquisition, exploration, exploitation and/or development of oil and natural gas properties in the United States. Without this $1-$20 extraneous valuation bump, TRCH is likely trading where it should be. Thus, most of the recent volatility we’ve seen in TRCH is related to this company trading ex-dividend the past few days. That said, a massive range of between $1 per share and $20 per share has been discussed. The range of what this dividend could be appears to be still up in the air. While there are several reasons behind the stock’s recent surge, the one very. This dividend will be paid out to shareholders of record, as of June 22. Torchlight Energy stock rose by 20.3 percent on March 11 and is marching higher in pre-market trading on March 12. This combination of meme stock hysteria and merger excitement helped drive this stock in recent weeks.Īdditionally, as a result of the merger, Torchlight announced investors will receive a special dividend of its Series A Preferred Stock. Indeed, retail investors have jumped on this stock prior to the announcement, spurring additional interest in Torchlight. Shareholders approved the deal on June 11, and Torchlight is set to become a much larger entity in short order as a result. The company’s highly touted merger with Metamaterial (OTCMKTS: MMATF) has driven most of the excitement in this stock. And many of the reasons for this volatility appear to still exist, painting a rather interesting picture for how this stock will perform over the near term. Torchlight Energy Resources (TRCH. However, this kind of volatility is stomach-churning. Now, investors who have held through this uncertainty are still up.
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