The metaverse is a 3D version of the internet.
Facebook has so much conviction in this new technology that it changed its name to Meta. And it’s investing a whopping $10 billion in its metaverse division.
But with metaverse stocks like Unity, Roblox and Matterport down 76%, 78% and 84%, respectively, from their 2021 highs…
You may be wondering if the metaverse is a scam or if it’s really the technology of the future.
When you watch today’s Market Insights video — the answer will be crystal clear.
You’ll find all the details on this next-gen tech in this week’s video.
(If you’d prefer to read a transcript, click here.)
Regards,
Steve Fernandez
Research Analyst, Strategic Fortunes
Morning Movers
From open till noon Eastern time.
Cogent Biosciences Inc. (Nasdaq: COGT) focuses on developing precision therapies for genetically defined diseases. The stock jumped 102% after the company announced positive initial data from its ongoing Phase 2 trials of Bezuclastinib for patients with advanced systemic mastocytosis.
Redbox Entertainment Inc. (Nasdaq: RDBX) operates a network of self-service kiosks where consumers can rent or purchase new-release DVDs and Blu-ray Discs. Thanks to its meme stock status, it is up 37% today despite having no news to report.
Alpha Tau Medical Ltd. (Nasdaq: DRTS) researches and develops diffusing alpha-emitters radiation therapy for the treatment of solid cancers. The stock is up 19% in response to news from earlier in the week that the FDA has approved its application to begin a study for a potential carcinoma treatment.
AeroClean Technologies Inc. (Nasdaq: AERC) provides air purification solutions for hospitals and other health care facilities. It is up 12% after it announced the hiring of a new vice president of strategic sales to lead sales efforts for the company’s recently FDA approved Purgo technology.
New Oriental Education & Technology Group Inc. (NYSE: EDU) provides private educational services under the New Oriental brand in China. It is one of the Chinese stocks that is up 8% today, bucking the trend in the broader Asian markets thanks to higher interest from foreign investors.
Just Eat Takeaway.com N.V. (OTC: JTKWY) connects consumers and restaurants through its food delivery platforms. The stock is up 6% after the company said it is seeing increasing private equity interest in its GrubHub business from big names like Apollo Global.
Rent the Runway Inc. (Nasdaq: RENT) rents designer wear for women through its stores and online retail. It is up 6% after the company reported strong first-quarter results that were driven by the return of travel, events and weddings.
Gold Fields Ltd. (NYSE: GFI) is a gold miner and producer that is up 5% today. The move came after a major investor called on the company to abandon its takeover offer for Yamana Gold and focus on its existing growth options.
Tuatara Capital Acquisition Corp. (Nasdaq: TCAC) is a special purpose acquisition company that is up 5% today. The move came after the company approved its deal to merge with and take cannabis software company Springbig public.
Harmony Gold Mining Company Ltd. (NYSE: HMY) is a gold miner that is up 5% this morning. It is up along with other gold stocks due to the volatility in gold prices as the market tries to navigate the latest inflation data.