MTTR - This Technology Company Is Being Acquired at a Shocking 207% Premium -- and These 2 Stocks Could Be Next
2024-04-23 05:21:00 ET
We recently learned that spatial technology company Matterport (NASDAQ: MTTR) , which provides the space-mapping technology used for 3D home tours and many other applications, has agreed to be acquired by real estate giant CoStar (NASDAQ: CSGP) .
The terms of the deal were quite favorable for Matterport investors. CoStar values the company at $5.50 per share, half of which will be paid in cash and half paid in CoStar stock. This represents a massive 207% premium over Matterport's most recent closing price.
Here's a key point that investors need to know: Matterport isn't the only cash-rich former SPAC that has an excellent product, but for one reason or another there is uncertainty about its ability to reach profitability as a stand-alone business. Two others that I believe could follow the same path in the not-too-distant future are neighborhood social media platform Nextdoor (NYSE: KIND) and genetics company 23andMe (NASDAQ: ME) .
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This Technology Company Is Being Acquired at a Shocking 207% Premium -- and These 2 Stocks Could Be Next