Meta Materials Inc (NASDAQ:MMAT) shares are trading higher by 52.6% to $3.51 during Tuesday's session after the company late Monday announced an update on its investigation into potential naked short selling, which began in June 2023.
The company initially hired Shareholder Intelligence Services to analyze trading patterns of its stock. Following this analysis, META employed the law firms Christian Attar and Warshaw Burstein to investigate the claims.
After the investigation, the lawyers confirmed that META has valid claims of market manipulation against several parties. James "Wes" Christian of Christian Attar expressed confidence in the actionable case related to META's stock.
The findings will be shared with regulatory agencies, and legal proceedings are expected to be filed in the coming quarters. META plans to provide further updates as more information becomes available.
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How To Buy MMAT Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Meta Materials' case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, MMAT has a 52-week high of $29.12 and a 52-week low of $1.80.