Why Meta Materials Stock Crashed Today
Meta Materials (NASDAQ: MMAT) stock crashed as much as 14% on Wednesday, the day after the company announced a new glucose monitoring prototype. The materials innovation company initially saw its stock pop yesterday on the news, however, today shares have given back all those gains and more. As of 11:45 a.m. EDT, the stock is down 10.8%.
On Tuesday, Meta Materials announced the conclusion of a multi-year project to develop a non-invasive at-home glucose sensing device. The prototype enables patients to measure their glucose levels without drawing blood. According to the press release, the prototype still needs to go through studies and get regulatory approval, indicating the product is far from being commercially available. However, it is a step in the right direction for Meta Materials to get products to market.
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Source Fool.com
