Why Matterport Stock Gained 17% in September

October 5, 2021

Shares of the newly public spatial data company bucked last month's market downtrend.

A view of a home using Matterport's "dollhouse view." Image source: Matterport.

Key Points

  • The company went public in July via a SPAC.
  • Subscription revenue growth has been strong.
What happened

Shares of Matterport (NASDAQ:MTTR), whose platform enables the creation of digital twins of physical spaces, rose 17.4% in September, according to data from S&P Global Market Intelligence. This pop is probably attributable simply to continued investor enthusiasm about the growth prospects of the company, which just went public in July via a special purpose acquisition company (SPAC).

For context, the S&P 500 and Nasdaq indexes fell 4.8% and 5.3%, respectively, last month.

Since its July 23 debut on the Nasdaq, Matterport stock is up 24.5% through Oct. 4. The S&P 500 and Nasdaq indexes are down about 1% and 3%, respectively, over this period.

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