Why Matterport Stock Soared 14% on Monday
Shares of Matterport (NASDAQ: MTTR) gained 14.3% on Monday, according to data from S&P Global Market Intelligence. The stock of the spatial-data company got a boost from the strength of the market in general, and particular strength in the tech sector, as we'll further explore in a moment.
For background: Matterport went public in July 2021 via a special purpose acquisition company (SPAC). Its tools enable users to create exact 3D digital replicas of physical spaces. Its technology positions the company as a potential major player in the metaverse, which can be thought of as a melding of the physical and virtual worlds.
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Source Fool.com
