Meta Materials (MMAT) Stock Gains Momentum: How to Trade Now?

Investors in Meta Materials (NASDAQ:MMAT) stock witnessed a surge of 8%, arising due to diverse factors. The versatile tech company business model gives scintillating performance in various applications through designing, inventing, developing as well as manufacturing sustainable materials. One of the materials and technologies is a non-invasive glucose sensing system.

The firm announced that the UK-funded non-invasive glucose sensing system is doneand shared details of the 27-month long prototyping process. It is hoping that the prototype will result in a “home hub” system monitoring biological parameters.This innovation in the point-of-care space for diabetes patients has seen a significant headway by Meta Materials and is closely being tracked by growth investors eyeing tech applications in the healthcare space.

The company opines that precise glucose measuring without drawing blood has a number of challenges to overcome such as weak signature of the glucose molecule, signal interference from other biological substances as well as calibration of environmental factors effects like skin moisture and ambient temperature. It believes that the combination of radio and opticalwave sensors having data processing using AI will ameliorate accuracy. Additionally, it said that it seeks new strategic partners as well as plans to conduct pre-clinical human studies in the summer.

Meta Materials remains a high-risk and high reward option currently and investors must do due diligence for their portfolio.

Market Reaction:

On Tuesday, MMAT stock went up 6.68% at $7.19 with more than 20.28 million shares, compared to its average volume of 17.10 million shares. The stock had moved within a range of $6.58 – 8.00 after opening the trade at $6.96. Over the past 52-week, the stock has been trading within a range of $0.42 – 21.76.