Meta Materials (NASDAQ:MMAT) stock is on the move Tuesday as investors react to a couple of pieces of news about the company.
To start, there has been talk among traders that MMAT stock could be in the sights of retail traders. This has many investors speculating that a short squeeze will soon take place. Today’s movement could be the start of that and may lead to additional gains.
Backing up this idea is MMAT stock seeing heavy trading today. As of this writing, more than 19 million shares of the stock have changed hands. For the record, the daily average trading volume is closer to 7.9 million shares.
A New HQ Also Helps MMAT Stock
Outside of the short squeeze talk, Meta Materials also just announced the opening date of its new global headquarters. The company intends to hold a grand opening event on Thursday to celebrate the completion of the location.
The facility, named the Global Headquarters & Centre of Excellence, takes up 68,000 square feet. When the company launches its grand opening, it will hold “demonstrations of its technology” at work.
The opening of a new global headquarters could possibly be behind why shares of MMAT stock are rising higher today. The news is likely working alongside the short squeeze speculation and helping boost share prices today.
MMAT stock is up 13.3% as of Tuesday morning.
Investors seeking out more of the latest stock market news will want to stick around!
InvestorPlace is home to all of the biggest stock stories moving the market on Tuesday! That includes what has shares of Digital World Acquisition (NASDAQ:DWAC), Corsair Gaming (NASDAQ:CRSR) and UiPath (NYSE:PATH) stock moving. You can get up to speed on all of this news at the following links!
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On the date of publication, William White did not hold (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.