Matterport (NASDAQ:MTTR) stock is taking a beating today as the spatial computing company pulls back from a recent rally.
MTTR stock has been trending higher recently thanks to a rally of the spatial computing shares that started earlier this month. A recent boost also comes from an analyst highlighting the company in a note to investors. However, now it’s dipping lower today.
Let’s take a look at everything traders need to know about Matterport below!
- Matterport is a company that offers spatial data to customers.
- That includes via the use of its free Android app.
- The company’s services allow users to map out rooms and buildings.
- Doing so lets them better plan how to reorganize and make use of their locations.
- That can be beneficial to companies, such as retailers, that are planning to remodel.
- The data provided by the company can also map out an entire building to make navigation easier.
- While the Matterport app is free, the company also offers special equipment to make the job less of a hassle.
- That includes HD cameras and accessories that can be used to collect spatial data.
- One example of how Matterport’s spatial data is used includes listing houses.
- The company provides in-depth details about houses for sale to make it easier for buyers to see if they’re right for them.
- MTTR stock continues to see heavy trading today.
- That has some 10 million shares changing hands as of this writing.
- To put that in perspective, the company’s daily average trading volume is about 5 million shares.
- Matterport’s market capitalization is $7.651 billion.
MTTR stock is down 3.1% as of Tuesday afternoon but is up 198.1% since the start of the year.
There’s more juicy stock market news for traders to check out below!
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More Stock Market News for Tuesday
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On the date of publication, William White 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.
