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Why is Matterport Inc (MTTR) Stock down?

30 Nov, 2023:

Matterport Inc Stock (MTTR) dropped by 5.26% from $2.66 to $2.52 in the trading on Thursday November 30, 2023. The reason why MTTR stock down today is due to the announcement of partnership expansion with Vacasa. Matterport and Vacasa have announced a new multi-year partnership to expand Vacasa's use of Matterport's Digital Twin Platform and Capture Services. Under the partnership, Vacasa will utilize Matterport's full-stack digital twin solutions to more efficiently capture, document, and promote its listings. Each digital twin will generate an immersive virtual tour and high-resolution photos, providing a consistent showcase experience across Vacasa's rentals.

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