After Matterport (NASDAQ: MTTR) went public by merging with a special purpose acquisition company (SPAC) on July 23, 2021, its stock started trading at $14.23 per share. It eventually closed at an all-time high of $33.05 just four months later.

The bulls were initially impressed by the growth potential of Matterport's software platform, which is used to create "digital twins" of real-world locations like homes and offices. It also sold high-end 3D-scanning cameras for creating those twins and provided professional scanning services for businesses. These models could be used for virtual tours and virtual-reality experiences. 

Image source: Getty Images.

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Source Fool.com