Investors who are looking for stocks that have recorded considerable gains in recent days could well start tracking the Torchlight Energy Resources Inc (NASDAQ: TRCH) stock. The stock soared by as high as 62% on Wednesday on the back of frenetic trading and consequently recorded massive trading volumes as well.
According to reports, the total volume of shares that changed hands yesterday touched 186 million shares. That reflects a significant rise in trading volumes considering the fact that the average daily trading volume for the Torchlight stock stands at only 9 million shares.
While there was no specific news about the company that could have triggered such a rally, it is still important to get to know the company a bit better. Torchlight is in the oil and gas production and exploration space. The company’s operations are based out of Plano in Texas and it is mainly involved in acquiring and developing potentially highly profitable domestic oil fields. It is likely going to be in focus among many investors today.