Why Matterport Is One of My Favorite New Growth Stocks
Spatial data company Matterport (NASDAQ: MTTR) officially completed its SPAC merger with Gores Holdings VI on Thursday and officially began trading on the Nasdaq on Friday, July 23. The deal netted Matterport $605 million to fund the growth of its already high-growth business and it values the company at about $4.2 billion at Thursday's closing stock price.
The transaction brings to the public a company growing rapidly in a nascent and potentially massive spatial mapping market. If all goes well, this could be a critical infrastructure company in the digitization of real estate, and it's one of my top growth stocks right now.
Image source: Matterport.
Source Fool.com
