Meta Materials Inc (NASDAQ:MMAT) Stock Rockets 220% YTD: What’s The Buzz?
The functional materials industry may be fairly new but it has managed to garner considerable interest from some investors in recent years and one of the stocks from the sector that could be worth tracking is that of Meta Materials Inc (NASDAQ:MMAT).
Market Stats
On Tuesday, MMAT stock fell 4% at $4.58 with more than 8.38 million shares, compared to its average volume of 14.72 million shares. The stock has moved within a range of $ =4.2900 – 4.6200 after opening trading at $4.42.
Latest News
The company is involved in wide range of meta materials which can be applied in plenty of industries starting from aerospace and defence to healthcare and electronics. When one considering the Meta Materials stock, it should be noted that it went public earlier on this year on June 28 and hence, it is a fairly new publicly listed company from this sector.
It went public after having completed a merger with Torchlight Energy Resources. However, it cannot be denied that at this point in time, Meta Materials presents an opportunity to investors at the entry level when it comes to the functional materials sector.
It is a pure play functional materials company and other than Meta Materials there are very few comparable companies on NASDAQ at this point in time. Hence, it might be the right time for investors to add the Meta Materials stock to their watch lists and keep an eye on the company’s progress.
Traders Corner
MMAT stock is trading below the 20-Day and 50-Day Moving averages of $4.86 and $5.08 respectively. Moreover, the stock is trading below the 200-Day moving average of $4.93. The stock is up 50% in the past 3-month.
