MMAT Stock: The Latest News Meta Materials Fans Should Be Cheering

Meta Materials (NASDAQ:MMAT) is a newfound retail investor favorite. The materials manufacturer came into the fold recently, after its acquisition of Torchlight Energy Resources. Well, it’s making another acquisition again today, and investors in MMAT stock have reason to be very happy.

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Meta Materials is a Canadian material manufacturer that produces optical components and film for things like visual displays. The company recently came to the attention of retail traders and short-squeeze enthusiasts, just as it merged with Torchlight energy at the end of July. It has since been embroiled in debate among these retail investors and financial analysts alike, many of whom argue that it is at best a gamble play.

MMAT Stock Will Benefit From Nanotechnology Merger

Another merger could be able to change things, though. Today, Meta Materials is announcing its acquisition of Nanotech Security. Nanotech is a security outfit that creates nano-optic security products for banknotes and government identification.

A press release from Nanotech is highlighting the details of the acquisition. The deal will be an all-cash transaction of $90.8 million paid by Meta. Meta will be paying $1.25 per share to all shareholders of Nanotech stock immediately. The acquisition represents another stride by Meta Materials to expand its reach across the technology industry.

This acquisition is also joined by a series of tweets from Meta Materials’ founder and CEO George Palikaras, who seems to be targeting institutional sellers. Today, Palikaras is taking aim at behind-the-scenes trading, which often has a detrimental effect on short-squeeze stocks and penny stocks.

A simple tweet from Palikaras shows the executive is not keen on dark pools. Dark pools are private exchanges where institutions can move large volumes of stock without the public knowing until after execution. It seems as though Palikaras is showing support for the Securities and Exchange Commission’s (SEC’s) desire to take a closer look at dark pooling and its effects on stock prices. SEC Chairman Gary Gensler says the committee will be looking at dark pools and their potential for market manipulation; the statement is seeing support from the retail trading community.

The merger remains relatively quiet news in a busy day of trading; MMAT stock is up just over 1.6% on the day. However, it is seeing trading volume above the stock’s daily average.

On the date of publication, Brenden Rearick 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.


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