Daily Stock Ideas – October
Today’s 5 Stock Ideas (The All Metaverse/Augmented Reality Edition):
Facebook (FB) created quite a bit of excitement for investors in the stock market on Thursday after CEO Mark Zuckerberg announced a rebrand. The company will now be called “Meta” and will begin trade under ticker “MVRS” as of Dec. 1, 2021.
In response, a couple handfuls of augmented and virtual reality-related stocks saw interest and momentum. Below are some of those companies:
- Roblox (RBLX) – The company describes itself as “an online entertainment platform, where users can interact with each other to explore and develop immersive, user-generated and 3D experiences.”
- Matterport (MTTR) – In an exclusive comment given to the Benzinga Pro newsdesk, a Matterport spokesperson, when asked about the company’s collaboration with Facebook following the Facebook/Meta news, highlighted its partnership is related to Facebook’s AI Research organization. The spokesperson noted the company’s models are optimized for Facebook’s Oculus Quest using virtual reality mode in the Matterport platform.
- WiMi Hologram (WIMI) – The company announced Friday morning the submission of a trademark application for “WIMI METAVERSE” to lay out development of the metaverse industry.
- Vuzix (VUZI) – A play on augmented reality. The company’s smart glasses have application in multiple industries, including medical and industrial. The company is also a pick by ARK Invest’s Cathie Wood.
- The Glimpse Group (VRAR) – The company describes itself as “a virtual reality and augmented reality platform company that provides enterprise-focused software, services, and solutions in the United States.”