Facebook owner Meta to lift veil off its metaverse business

Facebook owner Meta to lift veil off its metaverse business

Facebook

Facebook (NASDAQ:FB) is trading up 2.40% at 301.71

Since October, Facebook (NASDAQ:FB) has renamed the company, articulated a vision of the internet where people can digitally connect through virtual-reality avatars or teleport to see places like ancient Rome, and helped trigger the metaverse investment craze.

When the company, now Meta Platforms Inc, reports fourth-quarter results on Wednesday, investors will get a new window into the financial impact of CEO Mark Zuckerberg’s current passion.

Meta plans to break out the results of its augmented and virtual-reality hardware unit, Reality Labs, for the first time, an investment the company previously warned would cause a $10 billion hit to 2021 profit and would not be profitable “any time in the near future.”

The company is hiring engineers and buying up multiple virtual reality gaming studios to build toward the metaverse, which is a broad futuristic idea of shared virtual realms that can be accessed via different devices and which Zuckerberg is betting will be the successor to the mobile internet.

Analysts said they would be keen to see indicators about the Reality Labs division’s profitability, how long it might be a drag on the advertising side, and evidence around the strength of VR headset sales.

On technical fronts Facebook (NASDAQ:FB) RSI stood at 37.85 and currently stock is trading below all MA. So, SELL position can be taken with following target and stoploss:

TRADE SIGNAL – : Facebook (NASDAQ:FB) – SELL: 301.71, TARGET: 293.66, STOP LOSS : 305.65

About Author

Related posts

Leave a Reply