5 Reddit’s WallStreetBets Stocks That are Tumbling

In this article, we discuss the 5 Reddit’s WallStreetBets stocks that are tumbling. If you want to read our detailed analysis of these stocks, go directly to the 10 Reddit’s WallStreetBets Stocks That are Tumbling.

5. Meta Materials Inc. (NASDAQ: MMAT)

Number of Hedge Fund Holders: N/A 

Percentage Losses Over Last Five Days: 5.71%

Meta Materials Inc. (NASDAQ: MMAT) is ranked fifth on our list of 10 Reddit’s WallStreetBets stocks that are tumbling. The firm is based in Canada and markets functional materials and nanocomposites. The share price of the firm has been given a short-term boost after weeks of losses on the back of the firm announcing that it had purchased a firm called Nanotech Security in a deal worth close to C$91 million. The closure of the transaction in this regard is expected in October, according to reports. 

Meta Materials Inc. (NASDAQ: MMAT) is one of the most popular meme stocks on Reddit but despite the mentions on the internet forum, the stock was one of the biggest losers in July, losing close to a third in value over the month. These losses have extended into August.

On July 12, the share price of Meta Materials Inc. (NASDAQ: MMAT) plunged 6% in a single day to a two-month low. This followed an more than 30% decrease in value of the shares over the previous weeks after the firm upsized a stock offering to $250 million from $100 million.