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home / news releases / MMAT - Hot Stocks: Musk testimony boosts TSLA; STFC jumps on merger deal; MMAT continues to fall

MMAT - Hot Stocks: Musk testimony boosts TSLA; STFC jumps on merger deal; MMAT continues to fall

Meta Materials Inc.
naphtalina/iStock via Getty Images Elon Musk loves a platform. Does a witness box count? Apparently, yes. Tesla (TSLA) shares got a boost on Monday as its founder testified in a shareholder lawsuit related to the firm's SolarCity acquisition. Other players in the electric vehicle space got a boost as well, including Churchill Capital Corp IV (CCIV) and Ayro (AYRO). In other news, a multi-billion-dollar merger deal sparked gains in State Auto Financial (STFC). Meanwhile, a strong earnings forecast inspired a rally in shares of radio-frequency technology company InMode (INMD). Conversely, meme-investor favorite Meta Materials (MMAT) continued its recent slide, posting another double-digit decline on Monday. Musk testified in a suit brought by shareholders who allege that Tesla's $2.6B SolarCity acquisition represented a bailout to save a business that the famed investor had a significant interest in. During the proceedings, Musk said the unit's recent poor performance was related to the

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Hot Stocks: Musk testimony boosts TSLA; STFC jumps on merger deal; MMAT continues to fall
Stock Information
Company Name: Meta Materials Inc.
Stock Symbol: MMAT
Market: NASDAQ
Website: metamaterial.com
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