Summary
- Meta's stock rose above $1 again, benefiting from attention around its spinoff of Next Bridge Hydrocarbons.
- This may allow Meta to regain Nasdaq listing compliance.
- MMTLP is now trading at $6.69, implying a market cap of $1.1 billion for Next Bridge.
- This far exceeds the market value of the assets, which currently have no production and negative cash flow.
- In the current market, $1.1 billion can purchase an oil and gas producer that can generate $200 million in 2023 FCF at strip prices.
For further details see:
Meta Materials Receives Attention Due To Its Oil And Gas Spinoff