(Reuters) -Shares of Meta Material Inc gave up premarket gains to fall 20% on Monday, the first day of trading after a merger that saw the niche hi-tech materials maker swallow Torchlight Energy Resources, which was at the center of huge speculative bets by small individual traders.
Torchlight’s stock rose as high as 74% last Monday as retail investors piled into the stock with record volumes. The shares, however, gave up some of the gains after the company upsized its stock offering.
In a…
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