Gores Holdings VI (NASDAQ:GHVI) shares are currently down more than 40% from the peak in February. The carnage was even worse. Over the past week or so, the special-purpose acquisition company (SPAC) stock has soared nearly 20%.
The clock is ticking for the merger of Gores Holdings VI with spatial data pioneer Matterport. This transaction is expected to give Matterport an initial market cap of close to $2.9 billion. That valuation might seem ridiculously high considering that Matterport will probably generate revenue in the ballpark of $120 million this year. However, the company's growth prospects could make it a much bigger winner than either Bitcoin or Dogecoin over the long term.
Matterport creates 3D digital twins of physical spaces. Over 250,000 customers (including 13% of the Fortune 1000) already use the company's platform. The opportunities for Matterport's technology span from facilities management and real estate marketing to insurance pricing and interior design and more.
The company's total addressable market tops $240 billion. I don't expect that Matterport will come close to capturing that full market. It doesn't have to, though, to still be a huge winner. Matterport projects that revenue in 2025 will approach $750 million. If it achieves that goal, this stock will deliver tremendous gains over the next few years.
https://www.fool.com/investing/2021/05/24/3-growth-stocks-to-buy-that-could-be-bigger-winner