Matterport, a developer of 3D spatial mapping tools, agreed to go public through a merger with Gores Holdings VI (NASDAQ: GHVI), a special purpose acquisition company (or SPAC), in February. Gores stock initially jumped after the announcement but subsequently surrendered most of its gains as rising bond yields sparked a sell-off in growth stocks and more speculative investments like SPACs.
Gores expects to close the deal later this year, and the combined entity will take on the Matterport name, trading on the NASDAQ under the ticker symbol “MTTR”. This represents a fascinating growth opportunity in the 3D-mapping space. Let’s see what Matterport does, how fast it’s growing, and whether or not its stock can generate big returns over the next five years.