Before the market on Friday, the stock price of Meta Materials (MMAT.US) rose. Some analysts believe that the reason is that investors mistook it for Facebook. The latter announced that it was renamed Meta on Thursday.
Platforms (FB.US). Meta
Materials, a Canadian materials science company, rose 24% before the market, and then the gains narrowed. As of press time, the stock rose 6.36% before the market. The company, headquartered in Nova Scotia, Canada, with a market capitalization of US$1.3 billion, became one of the most actively traded stocks before the market.
After Facebook changed its name yesterday, Meta Materials’ trading volume rose and its stock price also rose
On Thursday, Facebook changed its name to Meta platform Inc. The news swept Wall Street and social media, and the technology company is preparing to increase its investment in “Meta Universe”.
It is understood that the two companies are not related. In addition, a similar incident also occurred on the Roundhill Ball Metaverse ETF, which has a market code of Meta. The ETF rose by 1.9% on Thursday, and that day was also the most active trading day since the fund’s summer listing.
It is reported that Meta Materials also joined the ranks of AMC and GameStop this year, becoming a member of the “Meme” stock. Generally speaking, retail investors usually look for stocks with relatively high short-selling rates in Meme stocks to buy and implement a “short-squeeze” strategy. On the Stocktwits forum, the stock was one of the most mentioned stocks by investors that day.
