Question of the Day: Have you/will you buy stock in Matterport (MTTR)?14189
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| We are living in a new, high interest rate environment. This stock will likely go to $2 (fair value) and then get acquired my a large, tech company like Meta or Nvidia. | ||
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 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
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 Matterport eBlast on Wednesday, 15 March 2023 (after market closed) |
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 WGAN FanClub Member Buffalo, New York |
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| At this point with all the banking news - I predict not-so-good things & jump in the gold price unless the major central banks plan on devaluing that too. Just when the world looked like it had its [redacted] together, not really. Matterport seems happy in recent stock & company articles and loaded with cash. Too bad it forgot about its investors, the people who gave it the cash! | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| Video: Is Matterport Stock a Buy Or Sell Now? | Video courtesy of Riiv Investing by Travis Hoium YouTube Channel | 20 April 2023 | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| (27 April 2023) Matterport, Inc. Form 10-K | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| Matterport annual meeting will be held 10 am Pacific Time on Tuesday, June 13, 2023. | ||
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| SeekingAlpha.com (2 May 2023) Matterport: Still Can Lead Its Niche Market In The Short Term | ||
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| I bought a lot of their stock……. This isn’t a good thing…. Where do I submit to get “do overs”? | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| May 9, 2023 Matterport Announces First Quarter 2023 Financial Results -- The Motley Fool (11 May 2023) Matterport Stock Gains on Earnings Beat and Guidance Raise, but Caution Is Warranted |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| Matterport Inc(MTTR) Matterport to Participate in Upcoming Investor Conferences SUNNYVALE, California, Tuesday, May 16, 2023 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced that it is scheduled to participate in the following investor conferences: J.P. Morgan 51st Annual Global Technology, Media and Communications Conference Wednesday, May 24, 2023 Location: Boston, MA Jefferies Software Conference Wednesday, May 31, 2023 Location: Newport Beach, CA 2023 Cantor Fitzgerald Tech Conference Thursday, June 15, 2023 Location: New York, NY About Matterport Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Source: Matterport via Globe Newswire |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| Simply Wall St (21 May 2023) Trade Alert: Chief Technology Officer Of Matterport Japjit Tulsi Has Sold Stock We'd be surprised if Matterport, Inc. (NASDAQ:MTTR) shareholders haven't noticed that the Chief Technology Officer, Japjit Tulsi, recently sold US$490k worth of stock at US$2.80 per share. The eyebrow raising move amounted to a reduction of 50% in their holding. In the last twelve months, the biggest single sale by an insider was when the Chairman & CEO, Raymond Pittman, sold US$2.1m worth of shares at a price of US$4.30 per share. Source: Simply Wall St |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| Matterport annual meeting will be held 10 am Pacific Time -- today -- Tuesday, June 13, 2023. | ||
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| Video: Matterport's AI Play Has Promise | Video courtesy of Asymmetric Investing by Travis Hoium YouTube Channel | June 20, 2023 | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| Video: 208. Matterport to Layoff 170 Employees (30% of Workforce) | #mttr | Video courtesy of WGAN-TV YouTube Channel | 11 July 2023 | Verbatim Reading of the Matterport Blog Post WGAN Forum Podcast | Episode Number: 208 | Verbatim Reading of the Matterport Blog Post Layoffs Announced by Matterport CEO RJ Pittman | 11 July 2023 ==== "reduction of approximately 170 roles, or 30% of its workforce", according to the Matterport 8-K filed with the SEC today. ==== Hi All, In this Matterport blog post today (Tuesday, 11 July 2023), Matterport CEO RJ Pittman announced Matterport layoffs: "Today we’re making some significant changes at Matterport to help us achieve our strategic priorities faster and more efficiently. As part of our ongoing effort to optimize our global workforce and improve operating efficiency, we are reorganizing to streamline business operations. As a result, we have made the difficult decision to eliminate certain roles across the company, and start the process to evaluate possible redundancies in EMEA," writes Pittman. "We are saying goodbye to world-class professionals who will go on to do incredible things in their careers, and we will support them in the best way we can. I send my heartfelt thanks and gratitude to each and every Matterpeep that has helped shape the very special, industry-leading company we are today," writes Pittman. "The operational adjustments we are making today will sharpen our focus, speed up execution, and accelerate our path to operational cash flow profitability, pulling it into 2024– a full year ahead of plan. We will provide more details during our next quarterly financial conference call [Tuesday, 8 August 2023]. Our core business remains strong and our diverse end markets, including enterprise, are proving the resilience of our business model in challenging market conditions for real estate," writes Pittman. Three years ago, Matterport let go 90 employees. At the time, that was one-third of Matterport employees. See more WGAN Forum posts tagged: Layoffs I have noticed that for some time now, Matterport job postings have been sparse. Today, for example, there are just four Matterport jobs listed here. Your thoughts? Dan |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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 Screen Grab courtesy of Google Finance (5:36 pm ET Tuesday, 11 July 2023) Tip Ranks (11 July 2023) Matterport Guts 30% of Workforce, Stock Price Jumps |
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| Seeking Alpha (12 July 2023) Matterport: Lack Of Profits Aren't The Problem | ||
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| SFGATE (12 July 2023) Unprofitable Bay Area tech firm Matterport lays off 170 workers | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| Video: Matterport Layoffs do they MTTR? | Video courtesy Hopscotch Interactive YouTube Channel | 14 July 2023 @Hopscotch Transcript (video above) Emily Olman: Hey guys, it's Emily from Hopscotch Interactive. I wanted to talk to you guys about some pretty big news that has come about in the last couple of days. I wanted to break it down really quickly with my perspective because I've seen a few threads online in some groups about this topic and well, perhaps this next topic as well. Yesterday, June 12th, Matterport announced that they were going to be laying off 170 employees which is roughly 30% of their staff. Now we all know that they went public and that they haven't been doing so well recently and that they peaked around $30 a share and they've been actually under $3 a share at some point earlier this year. The real estate industry is suffering and there's a lot of things happening, new technology coming out and a lot of people are afraid of being left behind by not incorporating things like AI into their business model. Let's take a look at what's going on and see how it's going to impact Matterport. As we can see, Matterport and this is from the SFGATE, thanks to one of my clients for sharing this with me. I knew the news but I hadn't seen the article. They are laying off 170 employees and they're going to be reducing their footprint. Maybe letting go of some space, maybe they have a little bit too much space. You know what? I think that given the economy right now, as unfortunate as it is for the people who are going to be losing their jobs, I said this in one of the forums yesterday and I said, look, it's probably has a lot to do with AI or AI strategy. RJ Pittman, let go of these employees or announced that with the SEC filing that he made yesterday. As soon as he did that the stock jumped 9%. I think it went on to jump another 20% today. This is clearly something that the investor community, whether the real estate media professionals community agrees with it and Matterport users agree with it or they see it as a bad sign, as a CEO this was probably the right decision. It was the right decision for a number of reasons. Number 1, you need to make sure that you are trying to edge towards some profitability, that you don't spend all of your cash, that you make sure that you don't have redundancies, and that you don't have too many employees when you have to watch certain costs. I think from investor, shareholder, and leadership perspective, this was the right call to make. Just look at the last couple of days from at about $3 a share to 3.65. Should you worry, are you a Matterport service partner, and is anything going to change for you? Probably not. Not much is going to change for you because most likely the jobs that they are going to be letting go of are roles that were not necessarily doing anything to help you with your core business and therefore, they needed to re-calibrate that and adjust. It won't be a huge impact for you. But the thing that was notable in the article by the SFGATE is in fact exactly what I had imagined, which was that it says here along with the layoff reasoning pavements post included another of its time tech exec announcement, sorry it's hard to read. Matterport's push for profitability includes the plan to lean hard into artificial intelligence. This is true and we've known this for a while so why would we be surprised that AI, as a business strategy is already impacting the number of workers that accompany needs if they're going to be an AI-heavy company? I'm not surprised by this. In June, a month ago, they did announce the introduction of Genesis, a generative AI initiative which is basically going to be creating virtual staging, is going to be a lot of things that will enable more enterprise companies to use Matterport in a more interesting way than they're currently doing it now. I feel like this move towards using new technology with a company that has been a technology company all along is really again, not a surprise. You can go and see the website or you can see their video on the website which shows what this virtual staging will look like. I think a whole bunch of other business insights that they're going to gain. Again, I wanted to note that this was posted a month ago. But in any case, Genesis is very interesting because this is at some point in the next probably 6, 9, 12 months, we'll be seeing something very interesting coming out of this that will be a feature of the platform. Don't worry, nothing is really changing. They're probably just trying to cut the costs of their more expensive employees so that they can go in the direction of launching new things. That's the way most startups work even if their later-stage startups. Interior design spaces, design and construction energy efficiency visualizations, all the things that they've been great at. Safety and security even so, I think this is all a good thing. Again, here's another quote, "Matterport is highly focused on delivering advanced AI capabilities across the digital twin platform." Here I'll make it a little bit bigger so you guys can read it too. "To unlock new capabilities and append how we manage property and space in the built world. This will greatly simplify property marketing, space planning, construction, property management, and maintenance for all of our customers, old and new." Well, so that is very forward-looking and exciting for the folks at Matterport. But does it matter? If you look at the stock price and you look at the things that matter to investors, then yes, this was a really good decision because it immediately gave a bump to the company which they sorely needed. Is it good for the community long term? It depends. Do they value the community? I would say that they value some of the community but they don't value all of the community. But just today, I saw some really interesting posts from people that I thought were just about as cool as it could get. People posting about a temple in Thailand that they scan so that people could access that 24 hours a day. There are still people putting a lot of heart and a lot of thought into the projects they do with the technology and so I do think that it matters. I think that the question though is that what is anybody going to do if they have to answer to stakeholders and investors who have put in many millions of dollars. But don't worry because even if this is one hype cycle on AI, just wait because quantum computing is right around the corner. It wouldn't surprise me if this press release is in a few months replaced by another press release of them leaning hard into quantum or other things. Don't get too cynical about the way that things are going now, and just remember that every startup is trying to do the best it can to stay afloat and to make sure that it can attract new customers, that it can impress its investors, it can keep confidence high. Thanks for joining the conversation with me. I felt like I should weigh in on this since I've been following this for so many years and some of you have done a great job of commenting and letting me know what you think in the past. If you like the video, give me a thumbs up, say thanks, or subscribe if you haven't already. If you are a Matterport investor, I own stock in Matterport, I should probably disclose that. I bought it a long time ago and I bought some also when it was really low. I've kept investing in Matterport because whether or not it's a stock investment or it's investment with using this technology with my clients, I have always very much enjoyed it. I think it's fun. I think it does amazing things that other platforms don't do and maybe in the future others will do better. Let's see what happens again. Thank you for watching. Thank you for subscribing and for tuning in. Let's absolutely wish all those people who did get let go good luck on their next journey and see you guys soon. Thanks. Bye. |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
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| Video: Matterport (MTTR) Cuts 30% Of Workforce- What Does This Mean For Matterport And The Operators? | Video courtesy of Jon MacKnight Momentum 360 YouTube Channel | 14 July 2023 | ||
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 WGANStandard Member Los Angeles |
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| Whenever I hear about any company cutting its workforce 30%, I’m always surprised that the announcement doesn’t also include a self-committed decision of the executive staff to cut their own guaranteed (monthly/annual) compensation by the same 30%. Yes, their own stock holdings and options flow up and down with the performance of share price, but what would really be meaningful is if their guaranteed compensation (and any golden-parachute extras) are cut, emulating the company’s need for belt-tightening. When a company’s executive team DO NOT cut their own salaried compensation in tandem with the company’s “need to belt-tighten”, it clearly indicates that the executives, themselves, DO NOT believe in the company, long-term. They’re simply supporting the stock price on the backs of their loyal underlings. So why would anyone today buy MP stock? A half century ago, I knew of a large company in Chicago whose founder established a rule that 100% of the company’s stock must be owned by current employees. Leave the company, you have to sell it. Retire? You have to sell it. Was a good system that raised and lowered all boats together. The staff was devoted and the company grew very successful. And decisions were driven by long-term thinking, not driving the stock price up so the C-suite team could cash out on a peak. |
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| Video: BIG Changes Affecting Real Estate Photography, July 2023 | Video courtesy of nathan Cool Photo YouTube Channel | 17 July 2023 | ||
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| Simply Wall Street (17 July 2023) Matterport, Inc.'s (NASDAQ:MTTR) market cap touched US$1.0b last week, benefiting both retail investors who own 51% as well as institutions | ||
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 WGAN StandardMember Las Vegas |
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| I find this article to be a pretty good write up on where is Matterport today. Minus the glamorization of VHT. Matterport: Lack Of Competitive Advantage Is A Problem | ||
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| BestStocks.com (2 August 2023) Speculation Surrounds Matterport’s Highly-Anticipated Earnings Release and Insider Trading Activities | ||
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| Video: Matterport Announces Second Quarter 2023 Financial Results | Video courtesy of WGAN-TV YouTube Channel | Tuesday, 8 August 2023 WGAN Forum Podcast | Episode #215 ==================================================================================== Matterport Deck | Second Quarter 2023 Financial Results | August 8, 2023 ==================================================================================== Matterport Announces Second Quarter 2023 Financial Results 1. Q2 total revenue of $39.6 million, up 39% year-over-year, at high end of guidance range 2. Q2 subscription revenue reached record $20.9 million, at high end of guidance range 3. Q2 GAAP loss per share of $0.19 and Non-GAAP loss per share of $0.07, at high end of guidance range 4. Company raises 2023 Non-GAAP loss per share guidance 5. Accelerates operational cash flow profitability target to 2024 |
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| Video: Is Matterport Stock a Buy Now? | Video courtesy of Asymmetric Investing by ... | 17 August 2023 The Motley Fool (17 August 2023) Is Matterport Stock a Buy Now? |
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| GuruFocus.com (21 August 2023) Investing in the Immersive Future With Matterport and NetEase | ||
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| Simply Wall Street (20 August 2023) Independent Director of Matterport Peter Hébert Buys 22% More Shares | ||
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| Seeking Alpha (19 August 2023) Matterport: Growth Remains Strong And Profitability Is The Key Upside Catalyst | ||
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