Why Matterport Stock Jumped 19% in October
Shares of Matterport (NASDAQ: MTTR) jumped by 18.7% in October, according to data from S&P Global Market Intelligence, well exceeding the S&P 500 index's 7% return last month. The catalyst for the spatial data company stock's pop was news from Meta (NASDAQ: FB) -- formerly known as Facebook. Investors view the social media giant's strategic shift as a potentially big positive for Matterport.
Since Matterport went public in July via a merger with a special purpose acquisition company, its stock has gained 65.2%. Here, too, its performance is trouncing that of the S&P 500, which has returned 6.4% over the same period.
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Source Fool.com
