Meta Materials (NASDAQ:MMAT), as you may have heard, is spinning off oil and gas subsidiary Next Bridge Hydrocarbons through providing Meta Materials Preferred Shares (OTCMKTS:MMTLP) owners with shares of Next Bridge. There’s a lot of buzz surrounding these developments lately. However, none of this should distract prospective investors from wagering a small amount of capital on MMAT stock.

Don’t get me wrong: It’s important to be aware of what’s happening with Next Bridge and with MMTLP stock.

We’ll cover those topics briefly, but be sure to keep your eyes on the prize. In the long run, Meta Materials could prove to be a huge winner in the functional-materials space.

MMAT Stock Got Clobbered

On Dec. 9, MMAT was trending, but not in a good way. Meta Materials shares lost over 20% of their value in a single trading session. Was this because something terrible happened to Meta Materials’ core business, or to the functional-materials market in general?

Actually, no. The culprit, it seems, was news that the Financial Industry Regulatory Authority (FINRA) halted trading of Meta Materials Preferred Shares, or MMTLP stock. For the full version of that story, feel free to go here and here, and read Meta Materials’ press release on the matter here.

Again, we don’t want to get bogged down with distractions from Meta Materials as a business enterprise. Suffice it to say that folks who held Meta Materials Preferred Shares weren’t happy campers.

Meta Materials Is a Serious Revenue Grower

So, it appears that the trading community took its frustrations out on MMAT stock. Is this a reason to run for the hills, or is it actually a buy-the-dip opportunity? Check Meta Materials’ revenue growth, and you should agree that developing functional materials can be quite lucrative.

Believe it or not, Meta Materials increased its revenue 329% year over year in 2022’s third quarter. Moreover, during the nine months ended Sept. 30, 2022, Meta Materials’ total revenue expanded 388% compared to the comparable period of 2021.

Don’t just buy MMAT stock for the company’s revenue growth, though. Beyond that, you’ll need to believe in Meta Materials as a premier player in the high-conviction functional-materials industry. As the company points out, these materials have applications in “consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy.”

Amazingly, Meta Materials possesses 472 active utility and design patent documents and 292 issued patents. You just never know where the company’s functional materials might be applied next: magnetic resonance imaging (MRI), document authentication or maybe even light capture for solar panels. Wherever functional materials can be used, don’t be surprised to see Meta Materials in the mix.

Put $100 on the Chopping Block with MMAT Stock

There’s no denying that it’s risky to invest in a recently controversial company like Meta Materials. Don’t miss an opportunity to get exposure to the functional-materials niche market, however.

Now is the time to focus on a business with broad applicability and astounding revenue growth. If you’re willing to accept the risks involved, feel free to wager $100 on MMAT stock. The most you can lose is a C-note, and you could end up winning big time as a buy-the-dip investor of Meta Materials.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.