Paltalk (PALT) & Matterport (MTTR): Two trending stocks on Thursday

Follow us on Google News:
 Paltalk (PALT) & Matterport (MTTR): Two trending stocks on Thursday
Image source: Kaspars Grinvalds,Shutterstock

Highlights

  • Paltalk, Inc. (PALT) stock gained 593% in a year based on its closing price of US$6.93 on Oct 6.

  • Matterport, Inc. (MTTR) on Thursday said that real estate firm Cushman & Wakefield adopted its technology solution that helped save its cost by more than 50%.

  • The MTTR stock rose nearly 70% since February this year, based on its closing price of US$18.26 on Oct 6.                                                                

Paltalk, Inc. (NASDAQ: PALT) stock was up more than 19%, and Matterport, Inc. (NASDAQ: MTTR) stock rose by 8% at the market close on Thursday.

The PALT traded at US$8.27, while MTTR traded at US$19.77 at 4 pm ET.

Paltalk, Inc.

PALT is a New York-based technology company and provides communication software. Its network enables users to meet, chat and message in real-time.

The company’s market capitalization is US$68 million, and the P/E ratio is 18.8. Its 52-week highest and lowest stock prices were US$15.20 and US$2.91, respectively.

PALT posted revenue of US$3.4 million for the three months ended June 30, 2021, with a net income of US$822 thousand. Its earnings per share diluted were US$0.12 compared to US$0.08 in the June quarter of 2020. Its cash and equivalents were US$6.5 million as of June 30, 2021.

On Oct 6, the stock closed at US$6.93 with a share volume of 2,223,271.

Also Read: Firms that are likely to raise dividends in October: Know more here

Two trending stocks: Paltalk, Inc. (PALT) and Matterport, Inc. (MTTR).

Source - pixabay

Also Read: Firms that are likely to raise dividends in October: Know more here

Matterport, Inc.

Matterport is a technology company that provides data indexing and digitizing services.

The stock rallied on Thursday after it announced that Cushman & Wakefield adopted its technology solution that helped save its cost by more than 50 percent.

Cushman & Wakefield is a real estate firm. Cushman digitized its global property portfolio with the help of Matterport Capture Services solution and marketed its listings across 21 countries.

According to Matterport, Cushman could digitize more than 1,000 commercial properties in less than 12 months with the help of its technology solution.

Also Read: Top five value stocks to consider in October

Matterport Inc. has a market cap of US$4.78 billion. The stock’s 52-week traded range was US$28.00 to US$10.45.

The company made its stock market debut following its merger with the blank check company Gores Holdings VI, Inc. It raised US$640 million in gross proceeds in the deal.

For the second quarter ended June 30, 2021, MTTR generated revenue of US$29.5 million, up 10 percent YoY. It generated only non-operating income like interest and cash and equivalents from the initial public offering.

Also Read: Earnings Update: Levi Strauss’ (LEVI) net revenue jumps 41% in Q3

As of June 30, 2021, the net loss per share diluted attributable to common shareholders was US$0.62. The net loss was US$6.2 million in the June quarter of 2021 compared to a net loss of US$3.69 million in the same quarter in the previous year.

Its subscriber base increased to 404,000, up 158 percent, from the year-ago quarter. The subscription revenue rose by 53 percent YoY to US$15.3 million.

The company also forged partnerships with Facebook, SIMLAB, PTC, and Apex in the quarter.

On Oct 6, the stock closed at US$18.26 with a share volume of 2,024,060.

Also Read: Which companies are helping to remove carbon from the air?

Bottomline

The Paltalk stock jumped around 593 percent in one year, while Matterport rose nearly 70 percent since February this year, suggesting investors’ strong confidence in the stocks. However, traders should exercise due diligence before investing in the stock market.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.