The rivalry between billionaires Elon Musk, owner of Twitter, and Mark Zuckerberg, CEO of Meta, has been intensifying for some time. Meta decided to prepare a competing project called Threads, which has gained 100 million users in just five days. Surge in Meta's share price followed.
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Meta shares soar to 18-month high
Rivalry of two titans
Text app linked to the popular photo sharing platform Instagram is called Threads. It features strong parallels with its competitor Twitter, and provides users with options such as 'liking', posting, sharing or reposting content. Additionally, Threads allows its users to keep their Instagram usernames. Elon Musk, the owner of the Twitter platform counters by presenting a series of features to increase the company's revenue with.
Overview of Meta Platforms share value
When the company announced it had signed up 100 million users on Wednesday morning, July 5, shares of Meta rose nearly 4% to $295.29, marking the social media giant's highest price per share since the end of January 2022 [1].
Meta Platforms share progress over a 5-year period (Resource: Google Finance)*
The increase in the share price comes after financial problems and subsequent decrease in stock value in the beginning of 2022. The optimism associated with the new Threads service can be expected to continue, and if Meta Platforms manage to live up to expectations as well as the advice of users, the optimism may reflect positively on the company's share price. [2]
Threads as the next platform in line
Meta Platforms, Inc., formerly called Facebook, is an American multinational technology conglomerate headquartered in Menlo Park, California. The company owns and operates, among other products and services, social platforms Facebook, Instagram, WhatsApp, and of course, most recently, the above-mentioned Threads.
Adam Austera, Chief Analyst at Ozios
* Past results are no guarantee of future results.
[1] https://finance.yahoo.com/quote/META/options?strike=295&straddle=true
[2] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment, which may change. Such statements are not guarantees of future performance. They involve risks and other uncertainties that are difficult to predict. Results may differ materially from those expressed or implied by any forward-looking statements.
Disclaimer:
The material herein is considered as marketing communication under the relevant laws and regulations, and as such is not a subject to any prohibition on dealing ahead of the dissemination of investment research. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and should not be construed as containing investment advice, or an investment recommendation, or an offer of or solicitation for any transactions in financial instruments. The published content is intended for educational/informational purposes only. It does not take into account readersâ financial situation, personal experience or investment objectives. APME FX Trading Europe Ltd makes no representation that the information provided is accurate, current or complete; and therefore, assumes no liability for any losses arising from investments based on the supplied content. The past performance is not a guarantee of future results.
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