88 on Monday as it became the latest company to grab the attention of the Reddit pack of small-time social media driven investors.
Torchlight, an oil and gas producer that is being bought by industrial materials maker Metamaterial Inc, was also the most discussed stock on trading-focused social media site Stocktwits, a platform commonly seen as a measure of interest from small time investors.reflecting positive sentimentData from brokerage Fidelity showed Torchlight was the second most traded stock on its platform on Friday, with buy orders outnumbering sell 1.6-to-1.
After losing US$71 million last week, short-sellers had lost another US$138 million on Monday after Torchlight hit a record high of US$10.88 per share, according to Ortex.
Yet this has been mentioned 3 times on Reddit 😂😂 it’s not a meme stock and Reddit had nothing to do with it. Media is really pushing this crap now eh
It’s one way to get rid of short sellers.