Matterport Is Plunging -- Can Management Turn Things Around?
The stock market was having a rather negative day, with all three major indexes firmly in negative territory throughout Thursday. But spatial-data company Matterport (NASDAQ: MTTR), once one of the hottest IPOs of 2021, was plunging Thursday after reporting earnings after market close on Wednesday. As of 3:15 p.m. ET, Matterport was down by 21% for the day to a fresh all-time low.
In some ways, Matterport's results were quite solid. Subscriber growth nearly doubled year over year, and subscription revenue grew by 47% in 2021. But there are some big concerns when it comes to growth.
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Source Fool.com
