Why Matterport Stock Jumped 19.5% on Friday

Shares of spatial data company Matterport (NASDAQ: MTTR) jumped as much as 19.5% in trading on Friday, on speculation it could be a metaverse stock. Shares are up 17.3% at 3:40 p.m. EDT and look like they will end the week extremely strong. 

Investors are speculating today that Matterport could be a partner in Facebook's (NASDAQ: FB) effort to build the metaverse (Facebook will soon be known as Meta). The two companies are working together on Facebook's AI simulation platform in Embodied AI. This research is intended to find use cases for spatial data and AI with academic researchers. 

Image source: Matterport.

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Source Fool.com