Will MMAT stock go up this year? How soon will MMAT stock reach $2 again?
In this article, I’m going to break down everything you need to know about MMAT (NASDAQ:MMAT) stock including predictions for 2023, what it is, and how to buy it.
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Let’s begin.
What is MMAT Stock?
So, what is MMAT stock anyway?
MMAT is the stock ticker symbol for the company Meta Materials Inc.
Meta Materials is a developer of high-performance functional materials and nanocomposites for a broad range of applications.
The tech company is providing solutions in aerospace and defense, 5G communications, in the automotive industry, energy, and medical to name a few.
2022’s bear market dragged the entire market down and Meta Materials stock is no exception.
Like many companies, the company stock is down -50% in the past year.
Technical analysis shows us $2 is a key level.
In June of 2021, MMAT squeezed to $21.76, only weeks after AMC Entertainment stock reached its all-time high of $72 per share.
Latest Meta Materials (MMAT) Stock News
In December of 2022, Meta Material’s preferred shares (MMTLP) were delisted by FINRA, a week prior to the advised date.
Retail investors have been protesting on social media claiming FINRA manipulated the security, preventing it from squeezing.
A week later, the SEC named MMTLP (Torchlight Energy) in a pump and dump scheme lawsuit.
Many retail investors claimed the pump and dump was happening outside of their community, particularly in the options trading circles.
On December 28th, 2022, Meta Materials won a Lux Innovator of the Year Award for its NANOWEB® 5G Reflector solution, which is able to passively reflect and redirect high-speed signals at design-specific angles to improve signal propagation and help eliminate dead spots, without requiring any power or a network connection.
“META is developing breakthrough, next-generation applications, across a range of industries,” said George Palikaras, President and CEO.
“We have built a broad set of platform technologies, backed by a rapidly expanding IP portfolio, which is approaching 500 active patent documents. Nevertheless, we could not succeed without our global partners, who contribute technology, key materials, supply chain and channel relationships. I want to acknowledge and thank them for their continued support.”
MMAT Stock Forecast
IDTechEx report predicts that the meta-materials market will reach $8.7 billion by 2043.
Meta Materials is a premier player in its industry with hundreds of patents in the meta/functional-materials niche.
The company recently opened its global headquarters and Centre of Excellence in Canada.
This is a 68,000-square-foot, state-of-the-art manufacturing facility.
Experts say Meta Materials could ramp up its operations very quickly over the next 12 months.
These types of moves will without a doubt have a positive effect on the stock price.
Analysts are giving Meta Materials stock a forecast of $3.50 per share on the high end, or a +255% gain increase from today’s share price.
Analysts are also giving MMAT stock a medium of $2.75 (+179%), and a low of $2.00 (102.80%).
Is MMAT Stock a Buy?
MMAT stock is receiving a lot of what I call ‘pre-attention’.
It’s getting some coverage, mainly positive due to Meta Material’s success.
The company stock could be a great buy for value investors, that’s whether you’re looking to trade it short or long-term.
Short term investors may give it a price target of $2-$3 while long term investors might approach the investment more ambitiously.
How do you buy MMAT stock?
First, you’ll need to open a broker account with a reputable broker, such as Vanguard.
In this article, I walk you through how to open your account step by step using an example with AMC so you can buy your favorite company stock today.
Will Meta Materials Stock Go Up?
Will MMAT stock go up this year?
Despite the many talks of a recession looming in 2023, MMAT stock could be a performing company this year.
Meta Materials is extremely well diversified in a number of industries that need the company’s solutions.
But I’m curious to hear your thoughts on Meta Materials.
Are you currently holding the stock?
What are your price predictions for the new year?
Leave a comment down below.
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