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3 Metaverse Stocks To Watch Today

Icelandverse aside, these metaverse stocks continue to grab headlines.

stocks to watch today (metaverse stocks)

Are These Top Metaverse Stocks Worth Investing In This Week?

If you have been keeping up with the latest stock market news, you would know about metaverse stocks. After all, these are companies whose businesses revolve around bringing the increasingly real metaverse to life. In short, the metaverse is a virtual space where people can interact seamlessly for a variety of reasons. This ranges from work and socializing to even gaming and learning. As such, with more companies looking to jump on this emerging trend in tech, investors could be following suit.

For example, we could take a look at Unity Software (NYSE: U). Accordingly, the company is not shy about its current push to accommodate this upcoming field in the tech world. Firstly, Unity is currently looking to acquire Weta Digital, director Peter Jackson’s movie special effects company, for $1.6 billion. Seeing as this is the same tech behind Gollum from The Lord of The Ringsblockbuster films, Unity means business. Secondly, the company recently launched its Unity Simulation Pro and Unity SystemGraph offerings. According to Unity, both products serve to “advance simulation performance and capabilities”. It claims to do so by making it faster and more cost-effective to run powerful simulations. Given the importance of simulations in the metaverse, these moves make sense.

Not to mention, even retailers like Nike (NYSE: NKE) are eyeing the metaverse market now. Namely, the company recently filed over half a dozen trademarks with the U.S. Patent and Trademark Office. All of which include trademarks covering downloadable goods across its core product lines. This, in theory, would allow for the company to potentially market its wares digitally for metaverse avatars. Overall, the metaverse appears to be coming in hard and fast. Could that make one of these metaverse stocks top picks in the stock market today?

3 Metaverse Stocks To Buy [Or Sell] Today

Meta Platforms Inc.

First up, we will be taking a look at Meta Platforms, formerly known as Facebook Inc. It would be tough to make a list of the best metaverse stocks without mentioning this tech goliath. As the name change suggests, Meta is a key player in the tech industry, leading the charge into the metaverse. As CEO Mark Zuckerberg recently noted, the company’s focus on connecting people through tech remains as steadfast as ever.

Among its latest moves on the metaverse front, Meta is currently working with leading chip manufacturer AMD (NASDAQ: AMD). Through this partnership, Meta will be relying on AMD for its data center chip needs. With the vast amounts of data needed to keep the metaverse running, this would be a timely play by Meta. Having AMD’s chips as the brains behind such a large-scale operation could serve to benefit the company in the long run.

Moreover, even with the name change, Meta’s leading social media platform, Facebook, continues to thrive as well. Over the weekend, Facebook announced a slew of new online shopping features. This includes its product recommendations, Shops in Groups, and Live Shopping For Creators. By and large, with Meta seemingly firing on all cylinders now, will you be investing in FB stock?

Source: TD Ameritrade TOS

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Microsoft Corporation

Microsoft Corporation is a multinational technology corporation that produces a wide variety of computer software and consumer electronics. It is mostly known for its Microsoft Windows line of operating systems and also its flagship hardware products like the Xbox video game consoles. MSFT stock is up by over 50% in the past year itself. Jumping on to the metaverse hype, the company has recently introduced Mesh for Microsoft Teams.

Schedule for a 2022 rollout, the feature combines the mixed-reality capabilities of Microsoft Mesh, which allows people in different physical locations to join collaborative and shared holographic experiences, with the productivity tools of Microsoft Teams, where people can join virtual meetings, send chats, and collaborate on shared documents. Ultimately, it is designed to make online meetings more personal, engaging, and fun.

In late October, the company announced another stellar quarter. Diving in, revenue for the quarter increased by 22% to $45.3 billion. In fact, the company saw growth in many segments, like its Office Commercial products and Windows Commercial products. GAAP net income was $20.5 billion, increasing by 48% compared to a year earlier. Microsoft says that its Microsoft Cloud has driven this quarter, as it delivers end-to-end platforms and tools that organizations need to navigate this time of transition and change. Given this strong quarter, should investors be paying close attention to MSFT stock right now?

Source: TD Ameritrade TOS

[Read More] 4 Top Reddit Stocks To Watch In The Stock Market Today

Roblox Corporation

Following that, we have Roblox Corporation, a metaverse company that develops video games. Through its Roblox platform, millions of developers are also able to produce their own immersive multiplayer experiences. Also, the company is ranked as one of the top online entertainment platforms for audiences under the age of 18 based on average monthly visits and time spent. RBLX stock is up by over 35% in the past 5 trading sessions. This is due to it reporting impressive earnings last week.

Firstly, the company’s revenue more than doubled compared to a year earlier to $509.3 million. Its bookings increased by 28% year-over-year to $637.8 million. Furthermore, its average daily active users (DAUs) increased by 31% year-over-year to 47.3 million with 11.2 billion in total hours engaged, increasing by 28%.

“Growth in all of our core metrics – DAUs, hours, and bookings – displayed strong year-over-year growth despite lapping Covid-impacted periods and back-to-school seasonality,” said Michael Guthrie, Chief Financial Officer of Roblox. “Notwithstanding significant investments in developer economics and hiring, we also generated healthy cash from operations. Based on our October results, we appear to be having a great start to the last quarter of the year.” It also recently had its first virtual concert with chart-topping pop star, Tai Verdes on November 13. Moving forward, performances of this kind could become mainstream as a new way for artists to connect with fans. With that in mind, should you have RBLX stock on your list of metaverse stocks to buy?

Source: TD Ameritrade TOS

By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha, Invesitng.com, and actively contributes to FactSet. At StockMarket.com, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

After years of living in New York, he made the move to Miami, Florida where he’s become an active member of the finance community. Joe has worked with early-stage companies in marketing and consulting capacities, which has given him an opportunity to see what makes companies tick. His viewpoint is that while corporate news is vital to any investment, it’s what isn’t “right in front of you” that can make a good investment great. His approach to the markets is one that aims to deliver information that might not be well-known. But through deep research and diligence, Joe has written about and been able to uncover time-sensitive information when seconds matter in the stock market today.

Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.

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