MTTR - Why Matterport Stock Jumped 175.3% This Week
2024-04-26 16:01:00 ET
Shares of spatial data company Matterport (NASDAQ: MTTR) jumped on Monday morning after the company announced it was being acquired by CoStar (NASDAQ: CSGP) . According to data provided by S&P Global Market Intelligence , the stock was up as much as 175.3% and is up 170.7% for the week as of 2:30 p.m. ET.
CoStar is buying Matterport for a whopping $5.50 per share, which compares to the closing price of $1.74 per share last Friday. The deal includes $2.75 per share in cash and another $2.75 per share in CoStar stock, which is up on the news this week.
This is one of the largest premiums I've seen, and there may be reason to keep holding on until the deal closes.
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Why Matterport Stock Jumped 175.3% This Week