![]() ![]() 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. ![]() Yet the acquirer profile looked to be a larger oil E&P company. 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. These include the alleged pump-and-dump scheme, as well as the events surrounding the former preferred MMTLP stock shares.Source: Minerva Studio / People are buzzing about Meta Materials, but perhaps they’re being distracted by certain news items. Just think about the effect this might have on MMAT stock. Meta Materials could ramp up its operations very quickly over the next 12 months. We’re talking about a 68,000-square-foot, state-of-the-art manufacturing facility. Moreover, the company recently opened its global headquarters and Centre of Excellence in Canada. Meta Materials is a premier player in this industry with hundreds of patents in the meta/functional-materials niche. It’s a global phenomenon, though, and an IDTechEx report predicts that the meta-materials market will reach $8.7 billion by 2043. It seems like the market has completely forgotten the positive news concerning Meta Materials and the industry in which it operates. We’re not even talking about a full price recovery here. Therefore, a $2 price target really isn’t too much to ask for. Yet, clear-minded investors should separate that situation from MMAT stock and its upside potential.Īstoundingly, shares of Meta Materials just surpassed the $1 level even though they started 2022 at nearly $3. It’s understandable if folks who held preferred MMTLP stock are confused or frustrated now. That situation doesn’t seem to have much bearing on Meta Materials now, however. Next Bridge shares are not trading publicly.Īlong with that soap opera, there’s the matter of Torchlight Energy, the now-defunct precursor to Meta Materials, being a target of an alleged pump-and-dump scheme. So, let’s talk about the 800-pound gorilla in the room: Meta Materials spun off oil and gas subsidiary Next Bridge Hydrocarbons by providing former Meta Materials preferred shares (MMLTP, currently unlisted) owners with shares of Next Bridge. What’s the Buzz Surrounding Meta Materials? Be aware of what traders are talking about, yes, but also focus on Meta Materials’ turnaround story, which could take the skeptics by surprise next year. It’s definitely possible, but you don’t have to wait until 2023 to take a position in Meta Materials. Is it possible, then, that the functional materials market will gain further traction next year? Consider this: The Israel Innovation Authority allocated the equivalent of $43 million to establish new consortia to support several technologies, including meta-materials. ![]()
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