5 Meme Stocks that More than Doubled in 2021

4. Meta Materials Inc. (NASDAQ:MMAT)

Number of Hedge Fund Holders: 4 

Year-To-Date Gain: 229%  

Meta Materials Inc. (NASDAQ:MMAT) markets smart materials and photonics. The stock has rallied amid interest from Redditors who are riding the “Meta” rally. Social media giant Facebook recently changed its name to Meta, boosting the share price of Meta Materials as a meme play.

Meta Materials Inc. (NASDAQ:MMAT) recently posted earnings for the third quarter, reporting earnings per share of -C$0.04. The revenue over the period was C$572,612, up more than 189% year-on-year.

At the end of the third quarter of 2021, 4 hedge funds in the database of Insider Monkey held stakes worth $8.8 million in Meta Materials Inc. (NASDAQ:MMAT), down from 5 in the preceding quarter worth $8.6 million.