Soros loads up on banks, cloud-based software companies

Torchlight Energy Resources Inc

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*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements

Energy : Oil, Gas & Consumable Fuels | Small Cap Value

Company profile

Torchlight Energy Resources, Inc. (Torchlight) is an energy company. The Company is engaged in the acquisition, exploration, exploitation and/or development of oil and natural gas properties in the United States. The Company is primarily focused on the acquisition of early stage projects, the development and delineation of these projects, and then the monetization of those assets once these activities are completed. Torchlight has interests in four oil and gas projects: the Orogrande Project in Hudspeth County, Texas; the Hazel Project in Sterling, Tom Green, and Irion Counties, Texas; the Winkler Project in Winkler County, Texas, and the Hunton wells in partnership with Husky in Central Oklahoma. The Company operates its business through its subsidiaries, including Torchlight Energy, Inc., Torchlight Energy Operating, LLC, Hudspeth Oil Corporation, Torchlight Hazel, LLC and Warwink Properties, LLC.

Soros loads up on banks, cloud-based software companies

5:20 pm ET August 14, 2020 (MarketWatch) Print

Billionaire George Soros showed interest in big banks and cloud-computing companies in the second quarter, according to a filing with the Securities and Exchange Commission. In the quarter ended June 30, Soros Fund Management added a new 1.2 million-share position in Bank of America Corp. (BAC), a new 515,000-share position in Citigroup Inc. (C), a new 258,000-share position in J.P. Morgan Chase (JPM), a new 582,000-share position in Morgan Stanley (MS), a new 217,000-position in PNC Financial Services Group Inc. (PNC), and a new 762,000-share position in Wells Fargo & Co. (WFC). Soros also added a new 69,000-share position in CrowdStrike Holdings Inc. (CRWD), and new positions of about half that size in DataDog Inc. (DDOG), Palo Alto Networks Inc. (PANW), Zendesk Inc. (ZEN), Splunk Inc. (SPLK), and Zscaler Inc. (ZS). Soros eliminated his positions in Walt Disney Co. (DIS) and Boeing Co. (BA). Notably, he also sold off almost all of his 2 million stake in Inovio Pharmaceuticals Inc. (INO), and trimmed his 3-million stake in Peloton Interactive Inc. (PTON) to 509,000 shares.

-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 14, 2020 17:20 ET (21:20 GMT)