Meta (META) investors saw the stock gaining +7.74% the last 5 days, which means it sits at +21.65% YTD.
Let's go through the news around Meta this week together.
LEGEND: Positive News | Neutral News | Negative News
Meta has expanded it's partnership with the NBA to bring more games to VR!
As part of this deal, there will be a total of 52 games added where you'll be able to watch it in VR, thanks to the Meta Quest. This is a new way to consume sports, and Meta is going all in here to make sure they are the #1 player.
In addition, a new revenue stream would be allowing users to purchase team apparel for their avatars (for the metaverse).
There are future plans to continue working with the NBA to offer more games and we should get more updates throughout the year.
Meta will be reinstating Donald Trump to Facebook and Instagram.
This was a hot topic in 2021 when the suspension went into effect, however following Twitter's recent reinstation, Meta has followed suite.
This is a hot topic political issue that is largely behind us but you can read more details on this reversal here directly from Meta.
Meta has implemented a whole bunch of new features for end-to-end encryption on Messenger.
The features include Chat themes (customize how your conversations look), Custom chat emoji's and reactions, Group profile pictures, Link previews, Active Status, and Bubbles (for Android - the popup that lets you reply to messages when using other apps).
These features aren't new per say, because the unencrypted default Messenger could do this, but now for added security you have these features as well.
Meta plans to continue focus on security and encryption and will be a major theme for them in 2023.
Oreo has built a metaverse - the OREOverse - which will be available in Meta's Horizon Worlds.
This means that if you have a Meta Quest, you'll be able to view a VR world where you can compete in cookie-themed activities.
It's interesting to see companies outside your traditional tech names (in this case an old school cookie maker) step into the metaverse - and this sort of adoption is a positive sign for Meta long term as they continue to invest in the metaverse to be the #1 player.
We look forward to spending a few minutes with you next Sunday for some new Meta news!
Disclosure: I am a Meta Platforms (META) shareholder at the time of publishing.
