Today, retail investor favorites are doing well nearly across the board. It’s a very green day in the overall markets, and investors are enjoying the benefits of this goldilocks period. Monetary policy remains accommodative and speculators in hypergrowth stocks continue to do well. For investors in Meta Materials (NASDAQ:MMAT) and MMAT stock, this environment has been very positive of late.
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Indeed, one year ago, MMAT stock was trading well below $1 per share. Currently, investors need to fork over $3.40 per share of MMAT stock. This producer of high-performance functional materials and nanocomposites has surged as investors price in higher valuations for high-tech stocks.
Additionally, previous meme rallies earlier this year took this stock above the $20 level, albeit briefly. Given the penchant retail investors have for finding the next potential short squeeze, MMAT stock has become more relevant for investors seeking rapid returns in short amounts of time.
Today, Meta Materials has another catalyst. Let’s dive into what the company announced and why investors are getting excited about this stock.
MMAT Stock Higher on Various Catalysts
In addition to the aforementioned retail investor interest, MMAT stock has garnered interest among institutional investors as well.
The company’s focus on developing a team of experts to guide its research is one of the key drivers of this broader investor interest. Last week, the company announced the formation of a scientific advisory board. This group of award-winning scientists will be a catalyst the company hopes will drive future innovation. Indeed, as a company that is on the cutting edge of technological breakthroughs in the high-tech materials it produces, investors appear to be betting on a stronger and more diverse pipeline of prospective products in the future.
Additionally, one of the goals for this board to to assess new opportunities for mergers and acquisitions (M&A). Meta Materials has grown in a number of ways, and one has been through acquiring strategic technologies. The hope is that this group of experts can guide such decisions in a way that’s positive for shareholders.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.