5 Metaverse Stocks to Invest In

2. Meta Platforms, Inc. (NASDAQ:FB)

Number of Hedge Fund Holders: 248

Meta Platforms, Inc. (NASDAQ:FB) is perhaps the world’s most serious or dedicated company when it comes to the metaverse. It has gone as far as to change its name from Facebook to Meta to reflect confidence in the industry. The company plans to expand its social network to create an immersive virtual reality that allows users to interact with each other in 3D. Additionally, it also sells a virtual reality headset.

Meta Platforms, Inc. (NASDAQ:FB) earned $29 billion in revenue and $3.22 in GAAP EPS, beating estimates only for EPS during its third fiscal quarter. UBS increased the social media holding company’s price target to $425 from $416 in December 2021, on the back of optimism for advertisement spend recovery.

During Q3 2021, 248 out of 867 hedge funds part of Insider Monkey’s research had bought stakes in the company. Meta Platforms, Inc. (NASDAQ:FB)’s market capitalization stood at $932 billion as of 23rd December 2021.

Ken Fisher’s Fisher Asset Management is Meta Platforms, Inc. (NASDAQ:FB) largest investor suggests data gathered by Insider Monkey through holding 7.5 million shares worth $2.5 billion.

Jefferies Group mentioned Meta Platforms, Inc. (NASDAQ:FB) in its Q3 2021 investor letter. It stated that:

“While still early, FB is in the process of building the platforms that will ultimately support the development of the Metaverse. We look at FB’s position through the lens of 4 current investment initiatives: 1) Oculus VR hardware, 2) Smart glasses, 3) Augmented Reality lenses, and 4) “Horizon Workrooms”

Oculus Virtual Reality hardware: Since acquiring Oculus in 2014 ($2B deal), FB has been focused on developing best-in-class hardware and complementary software & services to support VR experiences. The Oculus Quest 2 is FB’s newest VR headset; it retails at $299 and allows users to play games, try fitness classes, play sports, and watch concerts in virtual environments. Most importantly, Quest 2 is linked to users’ Facebook accounts, which means users can seamlessly connect with friends in virtual environments to play games or spend time together. We believe one of FB’s biggest differentiators in VR is its large array of non-gaming experiences that were designed for Oculus. For instance, users can explore extreme terrain in National Geographic Explore VR, join virtual fitness classes, or simulate being a chef. As FB’s hardware continues to improve and becomes less cumbersome, we would expect a flywheel of greater developer and user adoption of VR…”