Coverage of the stock of this dynamic tech company was initiated last month by several brokerage companies, with the following ratings: Credit Suisse, Outperform; Wedbush, Outperform; Loop Capital, Buy; and Piper Sandler, Overweight. By the way, this technology is catching on with many real estate pros, as it’s 3-D picture is a great way to show a house!
Matterport, Inc. (MTTR)
From Positive Patterns
Matterport scored a really nice upside chart breakout on volume that was about five plus times normal, and if you look at the chart you can see it. This stock is fairly unknown except for in the real estate community, where I have quite a few clients, and most are (very) aware of the company.
I think as this story gets out more to the public/people you will see more institutional money come toward this (exciting) idea that really makes sense.
I would buy MTTR up to $20, and won’t chase it past that. I was thinking the other day of all the other companies (BIG) that would like to buy this—like APPL, MSFT, and GOOG. This is such a basic utility; I could probably name 25 others (Rocket Mortgage, some Insurance company, think about it—lots of possibilities). Here is hoping that doesn’t happen so we can enjoy 4-5 years of cool/growth in earnings that give a stock a good jolt.
Reminder, this is NOT a blue-chip, this is NOT a bargain, this is brand-spanking NEW technology that is a game changer, and this stock IS RISKY—just know that. If the market took a header, this could drop 40 or 50%—full disclosure.
Bob Howard, Positive Patterns, P.O. Box 310, Turners, MO 65765, 417-887-4486, September 14, 2021