Billionaire Tom Sandell is Buying These 5 Stocks

In this article, we will discuss the 5 stocks being bought by billionaire Tom Sandell.  If you want to read our detailed analysis of these stocks, you can go directly to Billionaire Tom Sandell is Buying These 10 Stocks.

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

Sandell Asset Management’s Stake Value: $8,541,000 

Percentage of Sandell Asset Management’s 13F Portfolio: 4.78%

Tom Sandell held 32,610 shares in Meta Platforms, Inc. (NASDAQ:FB) at the end of Q3 2021. The total value of the stake is $8.54 million.

Jefferies Group mentioned Meta Platforms, Inc. (NASDAQ:FB) in its Q3 2021 investor letter. Here’s what the investment management firm said:

“While still early, FB is in the process of building the platforms that will ultimately support the development 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…” (Click here to see the full text)