Keep an eye on Meta Platforms (FB).
For one, the stock is quickly rebounding from oversold conditions. If it can break above its 50-day moving average around $340.89, FB could potentially re-test highs around $380.
Two, FB is gaining momentum from the metaverse story, as it invests about $10 billion in its development. Even more exciting, we could be looking at a potential $828.95 billion market with the metaverse, says Emergen Research.
Analysts at Bloomberg Intelligence say it could reach $800 billion by 2024.
If the metaverse turns out to be the success we believe it could be, it could be massive. According to the company, “The metaverse will feel like a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world. It will let you share immersive experiences with other people even when you can’t be together.”