4 Stocks That Could Already Be Winning From Facebook's Name Change To Meta

4 Stocks That Could Already Be Winning From Facebook's Name Change To Meta

One of the bigger news stories in the investing world Thursday was Facebook Inc (FBchanging its name and stock symbol. The company has changed its name to Meta and will change its ticker to MVRS on Dec. 1.

The announcement from Facebook sent many augmented reality and virtual reality related stocks higher on Thursday. Here is a look at four companies that have ties to Facebook or have announced metaverse plans since the company’s announcement.

Ray-Ban

Glasses company Ray-Ban, which is a unit of EssilorLuxottica (ESLOY), has a partnership with Facebook that could get a boost with the company’s all-in push on the metaverse.

A watch developed by Facebook features a front-facing camera and rounded screen, according to leaked images shown on Bloomberg. The image was found inside the company’s app for its smart glasses launching in partnership with Ray-Ban.

Ray-Ban could end up having a bigger partnership with Facebook as originally expected by investors. The Facebook watch could launch next year and compete against Apple Inc (AAPL) and others. Apple has three new watches coming out in 2022. Apple and Samsung (SSNLF) watches do not have cameras, which could give Facebook an edge.

Ray-Ban stands to benefit as Facebook bets big on augmented reality, virtual reality, and smart glasses given the existing partnership. Facebook CEO Mark Zuckerberg said the Ray-Ban glasses were part of the company’s “journey towards full augmented reality glasses in the future.”

WiMi Hologram

One of the big movers Friday being propelled by the Facebook momentum was WiMi Hologram Cloud (WIMI). The company filed a trademark application for the “WIMI METAVERSE,” according to a press release.

“This will help the company to further improve the intellectual property protection system, maintain the leading position in technology, and enhance the company’s core competitiveness,” the company said. WiMi plans to utilize the trademark related to advertising sales, communication services, office supplies, education, entertainment, and other sectors.

WiMi reports it owns 4,654 holographic virtual IP rights, which cover topics like virtual idol and virtual social. The company plans to provide commercial value from its existing and upcoming intellectual property.

Matterport

Shares of Matterport (MTTR) were up 19% Friday as the company got mentioned as a play on the metaverse and its connection with Facebook. The company entered a partnership with Facebook earlier this year to create the largest-ever dataset of 3D indoor spaces in collaboration with Facebook AI Research.

“I like to think that by digitizing the built world, Matterport is creating the Metaverse,” a Matterport spokesperson told Benzinga Friday. The company is optimized for Facebook’s Oculus Quest using virtual reality mode in the Matterport platform, according to the spokesperson.

eMagin

Another name to watch in the Facebook partnership space is small-cap eMagin Corp (EMAN). Traders circulated an August article from OLED Info that highlighted a potential partnership between Facebook and eMagin for an augmented reality or virtual reality device.

The article highlights several job posting for the two companies and a potential OLED deal. Oculus partnered with eMagin in 2017 on surface display, according to the report.

eMagin and Facebook have not disclosed an official partnership, so this is speculation at this point. Given the hunt for augmented reality and virtual reality stocks, EMAN could be one to watch given the potential Oculus connection.

TM Editors' note: This article discusses a small-cap and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

© 2021 Benzinga.com. Benzinga does not ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments