Meta’s Stock Soars as Threads Launch Boosts Interest by 455%
In Brief
Meta’s new app Threads attracted 100 million users in five days, sparking a 455% increase in Google searches for “Meta stock.”
Meta’s stock price reached a new high after launching Threads.
Global searches for “Meta stock” have experienced a 455% surge since the unveiling of Threads, a text-based messaging application that resembles Twitter. InvestinGoal conducted the research by examining Google search data worldwide within 24 hours following the app’s launch announcement on July 4.
Meta’s new app reportedly achieved a 100 million user base within five days after the launch. The Twitter competitor went live on July 6 (or July 5 in the United States, Canada, and South America) and garnered 30 million users on the first day, as stated by Meta’s CEO, Mark Zuckerberg.
An InvestinGoal spokesperson highlighted that stock prices are subject to fluctuations influenced by similar factors like supply, demand, and public information about businesses, including their ownership.
“These findings reveal that online searches for “Meta stock” has increased by 455% on Google. It will be interesting to see if the price of shares for Zuckerberg’s online empire surges and if the value of Twitter stock decreases in turn,” they said.
On Tuesday (July 11), Meta’s stock increased 1.42% to $298.29. The company reached a new 52-week high, breaking its previous record of $298.13 set on July 10.
However, there have been privacy concerns regarding Threads. The app gathers a vast amount of sensitive data from users, such as their contacts, purchases, health, location, and search history. With the data, Meta can create user profiles and share them with advertisers and other parties. Moreover, the app could use sensitive information to influence users’ feeds with tailored content.
Read more:
- How To Invest in the Metaverse: 10 Best Metaverse Stocks To Buy
- Best 7 AI Financial Advisors & Stock Analysts in 2023
- Apple’s Stock is Reaching Record High Before WWDC23 and VR/AR Headset Launch
- Meta Quest v56 Introduces Swipe Typing on Direct Touch Keyboard
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
More articles
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
