Why Matterport Stock Gained 17% in September
Shares of Matterport (NASDAQ: MTTR), whose platform enables the creation of digital twins of physical spaces, rose 17.4% in September, according to data from S&P Global Market Intelligence. This pop is probably attributable simply to continued investor enthusiasm about the growth prospects of the company, which just went public in July via a special purpose acquisition company (SPAC).
For context, the S&P 500 and Nasdaq indexes fell 4.8% and 5.3%, respectively, last month.
Since its July 23 debut on the Nasdaq, Matterport stock is up 24.5% through Oct. 4. The S&P 500 and Nasdaq indexes are down about 1% and 3%, respectively, over this period.
Source Fool.com
