Is This Metaverse Stock Poised for a Comeback?
Although the metaverse is still in early development, enthusiasts seem to agree that gaming, crypto, and virtual reality will all play a central role. As a result, many technology stocks that overlap with these themes have experienced more pronounced buying and selling over the last several months.
Matterport (NASDAQ: MTTR) went public through a special purpose acquisition company (SPAC) in July 2021. Shortly after its public offering, the company announced strategic partnerships with FAANG members Meta Platforms and Amazon. Matterport stock rocketed to $37.60 per share in November 2021 but has been on a downward spiral ever since.
Following the broader sell-off in tech stocks, Matterport now trades at $8 per share at the time of this writing. Even though the company has an ambitious roadmap ahead, its fourth-quarter results included some encouraging metrics that signal now may be an interesting time to buy.
Source Fool.com
