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home / articles / MMAT - Why Meta Materials (MMAT) Shares Are Falling | Benzinga

MMAT - Why Meta Materials (MMAT) Shares Are Falling | Benzinga

Meta Materials Inc.

Meta Materials Inc (NASDAQ:MMAT) shares are trading lower by 24% to $2.55 during Monday’s session after the company late Friday announced a significant reduction in its workforce by approximately 80%, aiming to be completed in the coming weeks. This decision comes as a response to challenges related to liquidity and securing further financing.

The company says it is exploring various strategic options including asset divestiture, seeking additional financing, or even selling the company. Without financial support, Meta Materials says the company faces the possibility of closing facilities or undergoing bankruptcy proceedings.

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MMAT) Shares Are Falling>Full story available on Benzinga.com
Stock Information
Company Name: Meta Materials Inc.
Stock Symbol: MMAT
Market: NASDAQ
Website: metamaterial.com
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