Small Cap Gainers: TRCH, RAVN, SWBI
9:27 am Tuesday, June 22nd, 2021
Torchlight Energy Resources Inc (NASDAQ:TRCH) gains to new highs on heavy volume, extending its recent rise; strength has been attributed to speculation on social media trading forums. Co also announced that it and Metamaterial have agreed to extend the outside date by which they must close their business combination transaction to June 30. Shares of TRCH are up a whopping 57% to $9.85 after hitting a new high of $10.88.
Raven Industries, Inc. (NASDAQ:RAVN): Agreed to be acquired by CNH Industrial (CNHI) for US$58/share, representing an enterprise value of $2.1 billion and a premium of +33.6% to the stock’s four-week volume-weighted average stock price. The deal is expected to close during Q4. At record highs. Shares of RAVN are up 49.59% to $57.77.
Smith & Wesson Brands Inc (NASDAQ:SWBI) jumped 18.67% to $27.71. again after the company’s better-than-anticipated earnings report on Thursday continues to stoke positive sentiment.
The firearms maker’s quarter was strong enough to push its revenue tally over $1B for the full fiscal year for the first time. Net income of $244M for the full fiscal year also set a record. Shares of Smith & Wesson traded as high as $28.18 earlier in the session and are beating the S&P 500 Index over the last year by a wide margin.
