Should You Already Consider Disposing Your Meta Materials (MMAT) Shares?

Singular Research, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. For 2021, the Singular coverage list outperformed the S&P 500 and Russell 2000 by 376 and 1,696 basis points, respectively. Since Singular’s 2004 inception, the Singular coverage list has respectively outperformed the S&P 500 and Russell 2000 by an annualized 405 and 427 basis points. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Singular Research, in its Q4 2021 investor letter, mentioned Meta Materials Inc. (NASDAQ:MMAT) and discussed its stance on the firm. Founded in 2007, Meta Materials Inc. (NASDAQ:MMAT) is a Dartmouth, Canada-based platform technology company with a $438.7 million market capitalization, and is currently spearheaded by its CEO, George Palikaras. Meta Materials Inc. (NASDAQ:MMAT) delivered a -39.43% return since the beginning of the year, while its 12-month returns are down by -59.73%. The stock closed at $1.49 per share on April 08, 2022.

Here is what Singular Research has to say about Meta Materials Inc. (NASDAQ:MMAT) in its Q4 2021 investor letter:

“To combat rising inflation, the Fed and Jerome Powell announced they would double the pace of purchasing Treasuries and mortgage-backed securities, and that they are expecting three rate hikes in 2022. As a result of these comments, markets were jittery, making December the most volatile month in 2021. Oil prices rose 14 percent and 10-year yields ended the month moderately higher. Looking ahead, inflation warning signs persist, and many are left to wonder just how much 2022 interest rate hikes have already been priced into markets. Meta Materials Inc. (NASDAQ:MMAT) was also a poor performer as the firm is the defendant in several class-action lawsuits for issuing materially misleading business information to the public.”

Photo by Danial Igdery on Unsplash

Our calculations show that Meta Materials Inc. (NASDAQ:MMAT) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Meta Materials Inc. (NASDAQ:MMAT) was in 4 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 4 funds in the previous quarter. Meta Materials Inc. (NASDAQ:MMAT) delivered a -38.68% return in the past 3 months.

In December 2021, we also shared another hedge fund’s views on Meta Materials Inc. (NASDAQ:MMAT) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.