Why Matterport Stock Dropped 24% in February
Shares of Matterport (NASDAQ: MTTR), a spatial-data company, dropped 23.8% in February, according to data from S&P Global Market Intelligence. The stock's decline is attributable to a continuation of the downward trend it's been in since November 2021 and the company's release of a fourth-quarter 2021 report that disappointed investors.
For context, the S&P 500 and Nasdaq Composite fell 3% and 3.4%, respectively, last month.
In 2022, shares of Matterport (which went public last July via a special purpose acquisition company, or SPAC) are down 65.1% through March 3. The S&P 500 and Nasdaq (including dividends for both indexes) are underwater by 8.2% and 13.4%, respectively, over this period.
Source Fool.com
