The synergies leading to the business combination are somewhat unclear.
Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. Right now, with Torchlight Energy, investors should probably be watching the madness and popular delusions of the speculative class safely from the sidelines. Torchlight Energy Resources was an oil & gas exploration firm that operated in Texas. (TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary objective of acquisition and development of domestic oil fields. Long-term investors buy a stock to benefit from the long-term growth of a company, not in the hope that they can sell the stock at a higher price to someone else and make a quick buck (profiting from what is often called the greater fool theory). The Company is engaged in the acquisition, exploration, exploitation and/or development of. Torchlight Energy Resources Inc (TRCH) is an accounting company based out of League City, Texas, United States. The complexity of this agreement is part of the reason Reddit message boards have been attracted to the stock, but at this point any fundamental underpinning to the stock moves is likely gone - emotion is the name of the game right now. In fact, after the deal is fully consummated, the plan is for the combined entity to jettison Torchlight Energy's energy operations. And in Torchlight Energy's case, that's on top of a very complex merger deal with Metamaterial, which is basically just looking to get a U.S. Today is just one more example of the extreme volatility being caused by this speculative group of traders. The Company is engaged in the acquisition, exploration, exploitation and/or development of oil and natural gas properties in the United States.
The ups and downs of meme stocks are frighteningly dramatic and unpredictable.
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