MTTR Stock: 7 Things to Know About Metaverse Play Matterport as Shares Explode 20%

Today, spatial data company Matterport (NASDAQ:MTTR) is seeing tremendous interest. Currently, shares of MTTR stock are up more than 20% at the time of writing.

Metaverse stocks: kid in front of a computer screen playing video games
Source: Shutterstock

This move today builds on some pretty strong momentum over the past month. A range of metaverse-related catalysts have been the key driver for MTTR stock in this regard.

In late October, Wedbush analyst Dan Ives called Matterport an intriguing option for investors looking at metaverse plays. Ives noted that Matterport’s partnership with Meta (NASDAQ:FB) to create “the largest-ever dataset of 3D indoor spaces via Facebook AI research” could be a massive catalyst for this company.

After this upgrade, shares of MTTR stock popped dramatically before falling to pre-upgrade levels. However, today, MTTR retook its monthly highs in dramatic fashion. It appears metaverse-related stocks are likely to continue to get a lot of attention right now. And given how bullish investors are on this space, this is a company that remains on many investors’ watchlists.

Let’s dive into a few things investors may want to know about Matterport.

What to Know About Matterport and MTTR Stock

  • Matterport is a spatial data company, focused on “digitizing and indexing the built world.”
  • The company designs, builds and operates online 3D spaces via its digital winds technology.
  • This allows for investors to engage in a realistic, 3D virtual world.
  • The company’s products are used by a range of companies, with a focus on the real estate space.
  • However, various partnerships such as Matterport’s recent Meta deal, suggest additional growth catalysts could be on the horizon.
  • Currently, thousands of companies in over 150 countries use Matterport’s technology.
  • The company plans to continue to grow its 3D library and list of high-profile clients in the years to come.

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 Publishing Guidelines.

Article printed from InvestorPlace Media,

©2023 InvestorPlace Media, LLC