Meta Materials Inc. (MMAT), a smart materials and photonics company, has increased 4.82% in the premarket trading session and consequently is changing hands at $4.76 at the time of the writing. On Thursday, MMAT closed the day at $4.56 after increasing 4.83% during regular trading hours. The constant increase is attributable to the company’s presentation of the AWE panel of leading global experts.
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Why MMAT increase?
On Thursday, MMAT announced an online panel discussion, namely AR Eyewear Engineering Challenges and the Role Advanced Optical Materials Could Play. The discussions featured a wide range of perspectives with panellists from Stanford University, Microsoft, and Facebook Reality Labs, etc. Consumer AR eyewear is discussed and anticipated for years. Lading industrial giants have suggested that it could be the next major platform to revolutionize the way we think, work, communicate, etc. So, to make insights regarding the subject, the company announced to conduct this panel discussion.
Appointment of VP
On 19th October, MMAT announced to appoint Carlos Smits as Vice President, Talent, and Culture. Mr Smits has more than 25 years of experience working with the world’s most primed organizations to help strengthen their talent and culture. At Meta, he would be responsible to handle all the human resource activities. Before joining Meta, he was Talent Acquisition Lead at Google.
Presentation in conferences
On 6th October, MMAT announced to present at two investor conferences in October. The company said that it would present at the 14th Annual LD Micro Main Event at the Luxe Sunset Bel-Air in Los Angeles on October 13th. Besides, the company said that it would also present at International Investment Forum (IIF) digital event on October 14th.
Q2 2021 financial highlights
On 12th August, MMAT reported the financial results for the second quarter of the fiscal year 2021. The quarter ended on 30th June. The company generated total revenue of $0.62 million, an increase of 197% when compared with the same period of 2020. The net loss reported by the company during the quarter was $5.18 million against $1.81 million for the same period of 2020. The net loss per share for the period was $0.03 against $0.01 per share for the same period of 2020. The company had cash and cash equivalents of $154.63 million on 30th June 2021.
Future for MMAT
During the last year, MMAT has surged more than 650%. Analysts believe that with the abating effects of the pandemic, the stock tends to rise further in quarters to come. So, potential investors should keep a close eye on MMAT.