One of the high-growth stocks that has been on the radar of many investors lately has been Meta Materials (NASDAQ:MMAT). Today, MMAT stock is up dramatically, seeing gains of nearly 21% at the time of writing. This producer of high-performance nanocomposites and functional materials has seen a boon as a result of a variety of factors.
On the science end of the spectrum, things are looking up for Meta Materials. We reported earlier this week about Meta Material’s formation of a scientific advisory board. This move has many investors focused on the science underpinning MMAT stock as they consider this company from an innovation perspective. The more products Meta Materials can put in its pipeline, the greater the likelihood of explosive long-term growth.
Additionally, growth stocks have been handed a bone from the Federal Reserve today. A rather dovish speech given by Fed Chairman Jerome Powell is juicing growth stocks today. Investors are factoring in the continuation of easy money policies, providing a more generalized boost to growth stocks.
However, perhaps the most company-specific catalyst for MMAT stock has been the company’s intrigue to retail traders as a short-squeeze candidate. This stock surged from around the $3 to $4 level in May to a high in June of more than $21 per share. Now trading around $4.15 per share, investors who are looking to take a flyer on a potential near-term winner appear to be piling into this speculative play.
Let’s dive into what investors may want to know about Meta Materials.
MMAT Stock On the Move Once Again
- Today’s jump in MMAT stock brings the weekly gain in this high-tech materials company to more than 40%.
- Retail traders betting on a short squeeze appear to be responsible for much of this move.
- Indeed, options volume has taken off with MMAT stock, driving expectations of a potential gamma squeeze.
- With a short interest of approximately 8.42% and a low price per share, retail investors believe MMAT stock is well-positioned for such a squeeze.
- MMAT stock is currently trading at a one-month high, but remains 80% below its 52-week high.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
