- Meta Materials (NASDAQ:MMAT) has secured $4.3M in purchase orders for its nano-optic security business, the company reported Thursday.
- The agreement comes as base award to Meta Materials' continued multi-year deal with a confidential G10 central bank customer that has a maximum value of $41.5M.
- "META is committed to being a global leader in banknote security technology. Our nano-optic technology addresses a growing, multi-billion-dollar problem by delivering next generation solutions that can be applied to protect banknotes and government documents and provide authentication for brands," said George Palikaras, President and CEO.
- MMAT stock is down 8% to trade at $0.66 vs. 52-week range of $0.64-$5.88.
- On Aug. 31, Seeking Alpha Quant Rating System issued warning stating Meta Materials (MMAT) is at the high risk of performing badly due to its decelerating momentum and negative EPS revisions.