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On December 21, 2021, the Company and Matterport Operating, LLC, a Delaware limited liability company and wholly owned subsidiary of Company (“Matterport Operating”), entered into a definitive merger agreement to acquire Enview, Inc., a Delaware corporation (“Enview”), for a combination of cash and newly issued shares of the Company’s Class A common stock. Enview is engaged in the development of artificial intelligence algorithms to identify natural and man-made features in geospatial data using various techniques, including deep learning, neural networks, and physics-based modeling. The closing of the acquisition is expected to occur in January 2022, subject to the satisfaction of customary closing conditions.
Two Monster Metaverse stocks to OWN: "Key Points 'Nvidia' is developing the tools and infrastructure required to materialize the metaverse. 'MTTR', Matterport's AI-powered application facilitates creating digital twins of physical spaces.
Spike to $37.60 on news....pulling back now .... while I haven't checked there is probably a large short position in the stock that is causing some of this volatility.