Torchlight Energy Resources (NASDAQ:TRCH) stock is on the rise today after providing an update to investors about its merger plans with Metamaterial.
Here’s everything investors need to know about the merger and what kind of dividend holders of TRCH stock can expect.
- Starting off, it’s worth noting that investors will have to be on record as holding TRCH stock starting on June 22.
- They will also have to continue to hold those shares through June 24 to be eligible for the dividend.
- Investors that are wondering how much the dividend will payout still don’t have any concrete details.
- However, analysts are expecting to range from anywhere between $1 per share and $20 per share.
- That’s a massive range for the special merger dividend that investors will have to hold out for.
- Luckily, they won’t have to wait long for the merger dividend.
- It’s set to be paid out to investors in TRCH stock on June 25.
- It’s also worth pointing out that TRCH stock was talked about as a potential short squeeze target over the weekend.
- Those predictions are coming true as the company is seeing incredibly heavy trading of its shares today.
- As of this writing, more than 225 million shares of TRCH stock have changed hands.
- That’s a massive surge in activity compared to its daily average trading volume of about 16 million shares.
TRCH stock was up 42.3% as of noon Monday and is up 1,152.1% since the start of the year.
Of course, there’s plenty more stock market news worth looking into today besides just this.
InvestorPlace.com offers incredibly in-depth daily coverage of the stock market and today is no different. We’ve got stories covering the top five penny stocks on the move today, why blockchain stocks are taking a beating, and plenty of other news worth looking into. Take a look at all of that information by following the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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