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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.
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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.
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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.
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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.
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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.
