Why Matterport Stock Was Plummeting This Week
Metaverse stock Matterport (NASDAQ: MTTR) hasn't been much of a hit in the real world over the past few trading days. According to data compiled by S&P Global Market Intelligence, the cutting-edge imaging specialist's share price has fallen by almost 12% week to date as of early Friday morning. That isn't much of a surprise considering how the company kicked off the week.
Matterport published its fourth-quarter and full-year 2022 results on Monday, and while these indicated robust growth in certain areas and topped some analyst estimates, they fell short elsewhere.
Revenue grew by 52% year over year (YOY), and the young company's non-GAAP (adjusted) net loss deepened only slightly, which were encouraging developments. Ditto the continued rise in the all-important subscriber count -- this rose at a 39% clip to 701,000.
Source Fool.com
