22 Nov 2021 - 06:30:17
470 Posts

Wrong purchase? Shares inSLOTXOCanadian company Meta Materials skyrocketed after Facebook was renamed Meta.

Reuters reported on October 29 that shortly after Facebook, Inc. changed its name to Meta Platforms, Inc., by holding massive press conferences through virtual reality (VR) and augmented reality systems. Serm (AR) On October 28, a strange phenomenon followed. When the stock value of a company sells metal products in Halifax Nova Scotia, Canada Name of the company Meta Materials, listed on the Nasdaq. of the United States as "MMAT" in March this year. A single surge of 26 percent in off-market trading.

In early trading on Oct. 29, Meta Materials shares continued to rise 5 percent to $4.79 a share. While shares of the former Facebook company, or Meta, rose only 1.5 percent. It moved close to $316.92 per share, its closing price on Oct. 28.

Reuters stated that It is not yet clear whether What caused Meta Materials' share price to skyrocket? Because the name is the same as the new name of Facebook Inc. Or is it because of the drive of investors? "Meme stock," a group of investors that drives the stock of a particular company. Or is it because both are combined?

Some observers are still puzzled that the trading of Canadian companies' stocks Off-time this market is real trading. Or is it part of a stock spin effort? If trading after market hours is really trading. it may be that Investors flocked to buy MMAT shares because they mistakenly thought they would get Facebook shares at a really cheap price.

no matter the real cause The unexpected beneficiary was a Canadian metallurgical company, and Chief Executive Officer (CEO) George Palicaras tweeted a sentimental message: On behalf of @Metamaterialtec. My heartfelt congratulations on @Facebook's transition to #metaverse.

In the case of buying the wrong stock due to misunderstanding This has happened many times before, most recently in the case of Zoom Technologies' stock surge. Because investors mistook it for Zoom Video Communication, the owner of video conferencing technology that became famous worldwide because of the COVID-19 pandemic at the time, it even made the Securities Exchange Commission (A) SEC) of the United States. The suspension of trading in Zoom Technologies shares is a special case.

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