TRCH Stock – What Investors Should Know
Oil and gas explorer Torchlight Energy Resources (TRCH Stock) merged with Metamaterials to establish Meta Materials (NASDAQ: MMAT) in June of 2021.
Torchlight Energy Resources (TRCH Stock) was founded in 2011. However, in 2021, the company merged with Metamaterials to become Meta Materials (NASDAQ: MMAT). As a result, TRCH stock was phased out and replaced by MMAT stock. It’s a significant shift that goes beyond names and stock tickers. Meta Materials develops functional materials and nanocomposites, whereas Torchlight Energy Resources was simply an oil and gas exploration business.
TRCH signed a merger agreement with Canada-based Metamaterial Inc. in December 2020. Upon completion, Metamaterial shareholders own approximately 75% of the combined firm. TRCH stockholders retain around 25% of the combined company’s ownership. TRCH expressed ambitions to sell its oil and gas assets as a result of the acquisition. Torchlight Energy Resources, Inc. was the company’s previous name until changing to Meta Materials Inc. in June 2021. Meta Materials Inc. was founded in 2007 and is based in Dartmouth, Canada.
A Closer Look at TRCH Stock
TRCH Stock price soared as ordinary investors flocked to the stock. This surge was exacerbated as the stock quickly became a member of the meme club. TRCH stock price soared following in the footsteps of other companies such as GameStop Corporation (GME) and AMC Entertainment Holdings (AMC). While the short squeeze looks appealing, it is not a proven way to make long-term gains. Meme stocks are extremely volatile since they are promoted on social media channels without necessarily having strong underlying fundamentals. As a result, TRCH’s big rally proved to be fleeting. MMAT/TRCH stock rose from $3.64 on May 13 to $21.76 on June 21, before falling down to $3.63 on July 16.
Meme stock online communities can significantly impact the pricing of a company’s shares through their concerted efforts. For example, to trigger short squeezes in heavily shorted names like GameStop and AMC. As a result, meme stocks might well be overvalued relative to their fundamentals. Nevertheless, they can remain elevated for extended periods of time as meme stock community members prop up their values. Prior to the merger with MetaMaterials, the meme-stock crowd evidently targeted TRCH stock, leading to a large price surge. However, that cycle of expectation and disappointment has already come and gone.
A Closer Look at Meta Materials
Meta Materials Inc. creates and manufactures a wide range of functional materials and nanocomposites. Its products include metaAIR, a laser glare protection eyewear; NANOWEB, a transparent conductive film; holoOPTIX, a holographic optical element; glucoWISE, a non-invasive glucose measurement device; and metaSURFACE, a magnetic resonance imaging scan signal to noise ratio enhancement of up to 40 times. In addition, the company develops and manufactures nano-optic structures and color-shifting foils. These materials are used in authentication and brand protection applications in a variety of markets. For example, banknotes, secure government documents, and commercial branding, as well as smart material research, development, and manufacturing. OEM suppliers in a variety of industries are primary customers. Aerospace, automotive, consumer electronics, communications, energy, currency and brand security, and medical devices, are among its customers.
Meta Materials is not an oil and gas explorer. Rather, it is a high-potential company in the functional materials niche. Below is a brief summary of META’s product offerings:
- Transparent sensors and 5G antennas – META provides flexible materials that enable sensors on foldable phones.
- A transparent conductive film – It provides de-icing and de-fogging for LiDAR-enhanced vehicles without blocking the camera or sensor functions
- An invisible antenna – It enhanced indoor 5G and digital TV reception
- Solar panel films – Ultra-light, thin and flexible materials for solar panels. They trap light that would otherwise be reflected while increasing absorption
- Augmented reality eyewear – Materials for augmented-reality-enhanced eyewear. META integrates optical elements for augmented reality with lens-casting technology.
Meta Materials Diabetes Management Glucose Sensor
META, together with a number of partners has just finished a 27-month endeavor to build a prototype for a non-invasive glucose sensor. This technique combines radio-wave and optical sensors to improve the prediction of changes in a person’s glucose levels. The goal is to market META’s glucoWISE Home Hub. META co-founder and Chief Science Officer Themos Kallos gave an update in the news release to reassure all stakeholders. “We are continuing to improve this technology, seeking new strategic partners, and planning to do pre-clinical human trials this summer,” Kallos said.
Meta Materials Inc. (NASDAQ: MMAT) a developer of high-performance functional materials and nanocomposites, today announced the conclusion of a 27-month long project to develop a non-invasive glucose sensing prototype, which combined radio wave and optical sensors to improve accuracy in predicting glucose level changes. The developed biosensing prototype is a critical step towards a “Home Hub” system targeted at monitoring biological parameters. The project was supported with about £911K (US$1.25M) from Innovate UK, part of UK Research and Innovation. During the project, several prototypes of the system were developed, and designed for use by diabetes patients in point-of-care settings such as homes and clinics. The system consists of a “Home Hub” along with a wearable element for overnight trend monitoring. It uses multiwavelength biosensing technology, which combines optical and radio wave sensors along with machine learning processing. (Source: metamaterial.com)
TRCH Stock Changes Name and Stock Ticker Symbol
Torchlight Energy Resources Inc (TRCH Stock) acquires, explores, exploits, and develops oil and natural gas properties in the United States. The firm’s projects include Midland Basin, Delaware Basin, and Orogrande Basin. On the other hand, Meta Materials Inc is primarily in the business of semiconductors & related materials. The merger establishes Meta Materials (NASDAQ: MMAT). As a result, TRCH stock was phased out and replaced by MMAT stock.
TRCH Stock – SEC Filings
Meta Materials Inc. is incorporated in the state of Nevada. Moreover, Meta Materials Inc is primarily in the business of semiconductors & related devices. For financial reporting, their fiscal year ends on December 31st. This page includes all SEC registration details as well as a list of all documents (S-1, Prospectus, Current Reports, 8-K, 10K, Annual Reports) filed by Meta Materials Inc. Torchlight Energy Resources Inc acquires, explores, exploits, and develops oil and natural gas properties in the United States. The firm’s projects include Midland Basin, Delaware Basin, and Orogrande Basin (TRCH Stock/MMAT). (Source: sec.gov)
TRCH Stock/Meta Materials – Investor Relations
Meta Materials trades on the Nasdaq Exchange using the META Stock ticker symbol. The company’s online portal provides basic information to investors and shareholders.
- Meta Materials Headquarters
1 Research Drive, Dartmouth, NS B2Y 4M9, Canada – Ph: 902 482 5729
- Meta Materials Corporate WebSite – metamaterial.com
- Investor Relations – investors.metamaterial.com
- Meta Materials News & events – metamaterial.com/news/
Up Next: Stock CBLI – History of Mergers and Acquisition
Stock CBLI traded as Cleveland Biolabs and then merged with Cytocom Inc., eventually changing the name to Statera BioPharma, Inc. (Nasdaq: STAB).
Cleveland BioLabs Inc was a biopharmaceutical business that was established in 2003. The firm created unique techniques to activate the immune system and address critical medical requirements. Its patented Toll-like immune receptor activator platform has implications in radiation harm mitigation and immuno-oncology. Entolimod is an immunostimulatory drug being developed as a radiation countermeasure and immunotherapy for oncology and other applications. It is the company’s principal product candidate. Entolimod is a Toll-like receptor 5 (TLR5) agonist being researched as a radiation countermeasure and oncology medicine. Its application is to prevent death from Acute Radiation Syndrome (ARS).