Eventually a break above the $10 resistance could bring about a strong bullish move.īearish traders would like to see the stock fall below the $6 level and the higher low trendline. If the stock can see a bounce near these levels bullish traders would like to see the stock begin to work toward the $10 resistance. The stock continues to trade along the higher low trendline, this trendline may add another level of support near the $6 further adding to the possibility that the stock could see a bounce here.īullish traders would like to see the stock find some support near the $6 level or the higher low trendline.The $6 level was also a level of resistance previously, but as the stock price trades higher than this level it may now hold as support.The $10 level is somewhere the stock previously found resistance, following the merger the stock fell below this level and may now hold it as resistance.The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. For them, Meta Materials might provide big returns at current prices. But that risk profile describes many other investors. I’m fairly conservative when it comes to jumping into technology pre-commercialization. They may or may not ever come to market, but that’s the bet here. The company didn’t elaborate on the commercialization timeline for glucoWISE products. So, if investors assume that it is going to focus primarily on the diabetes management sector then there are significant catalysts for shares. Meta Materials meanwhile posted a $CAD 55.08 million loss in Q1.īut remember, Meta Materials is nearly debt-free following the merger. Torchlight Energy Resources effectively no longer exists following its June 28 merger with Meta Materials (NASDAQ: MMAT) stock. It posted a $249.51 million net loss in the period. Senseonics, like Meta Materials, realized a significant loss in Q1. 334.87 0.01 186.48 0.72 108.53 0.26 Torchlight Energy Stock Is Extremely Overbought by Mark Putrino, Benzinga Staff Writer J11:26 AM 1 min read Shares of Torchlight Energy. The difference is that Meta Materials’ solution is non-invasive. Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. Senseonics is a diabetes management firm that is progressing toward the commercialization of an implantable glucose monitor. There are at least a few parallels between Meta Materials and Senseonics (NYSEAMERICAN: SENS). When it completed the business combination with Torchlight Energy Resources the accompanying press release noted that it would discuss recent events and future growth initiatives on July 6. It is apparent that it is attempting to further establish its position within health and wellness in particular.
Meta Materials technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Ostensibly that cash will be directed toward materials development alone since its newly purchased oil assets are being sold.īased on those assumptions, is MMAT stock worth establishing a position in? A Closer Look at TRCH Stock As a result of the combination, it has $160 million in cash with nearly zero debt. The focal point moving forward for potential investors is whether Meta Materials makes sense as an investment. T orchlight CEO John Brda will remain with the new business combination while its oil & gas assets are disposed of. Meta Materials shareholders are expected to own 75% of the combined company, while Torchlight shareholders get 25%. Nevertheless, it seems that the terms of the deal were enough to entice shareholders to agree to the merger. capital markets, Metamaterial Inc, a smart materials and photonics company, last year agreed to merge with Torchlight, an oil and. Yet the acquirer profile looked to be a larger oil E&P company. In a reverse takeover to list on the Nasdaq and access the U.S. TRCH stock had long been considered an acquisition target. The synergies leading to the business combination are somewhat unclear. Torchlight Energy Resources was an oil & gas exploration firm that operated in Texas. Meta Materials is a company that develops functional materials and nanocomposites.
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