10 Best Metaverse Stocks To Buy According to Hedge Funds

2. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 219

Meta Platforms, Inc. (NASDAQ:META) formerly the Facebook company, builds the future of human connection and the technology that makes it possible. The firm has moved beyond 2D screens and into immersive experiences in the metaverse to help create the next evolution of social technology. It has two reportable segments, the ‘Family of Apps’ including Facebook, Instagram, Messenger, WhatsApp, and other services, and the ‘Reality Labs’ which includes its virtual, augmented, and mixed reality-related consumer hardware, software, and content.

Mark Zuckerberg embraced the metaverse by changing his company’s name from Facebook to Meta, with a focus on bringing the metaverse to life and helping people connect, find communities, and grow businesses. The Meta Quest headsets enable amazing new VR worlds to witness. Users can experience mixed reality like never before with the world’s best library of mixed reality and immersive experiences on the most recent Meta Quest 3S. Simultaneously, Meta has introduced the Meta Horizon Worlds, a VR platform for immersive social experiences where one can explore, play, and create together.

Meta Platforms, Inc. (NASDAQ:META) closed the third quarter with total revenue of $40.59 billion, up 19% year-over-year. Apart from experiencing the rapid adoption of Meta AI and Llama, Meta achieved milestones related to Reality Labs and the integration of AI and wearables. These include experiencing a strong demand for Ray-Ban Meta glasses, the introduction of its first full holographic AR glasses Orion, and the release of its newest Quest 3S. Overall, the firm is witnessing strong product and business momentum.

As of 2024’s second quarter, the company is held by 219 hedge funds. With a strong vision focused on the metaverse and the significant progress the firm has made to make the metaverse a reality, Meta Platforms, Inc. (NASDAQ:META) is a promising metaverse stock to invest in.