3 Metaverse Stocks Showing Growth, Should You Buy Them in 2024?

The concept of metaverse has been around for decades but people are nowadays engaging with this computing technology. The tech companies began to pour truly substantial financial and engineering resources into it.

Three metaverse stocks that are worthy portfolio candidates, as discussed below

Unity Software Inc (NYSE: U)

Unity provides an immersive experience. It also provides training and guidance conducted in augmented reality (AR), which can reduce errors and improve knowledge transfer. 

Unity Software Inc. is an American video game software development company based in San Francisco. It was founded in 2004 and changed its name in 2007. Unity is a licensed game engine used to create video games and other applications.

As per Google Finance, the stock has a previous close at $42.69. The market cap is $15.54B. The average volume is 11.42 M. It shows a revenue of $544.21 Million, which is up by 68.55%. It has a net income of -$124.07 M, which is up by 50.38%. The net profit margin is -22.80, which is up by 70.55%. The data shows that the earnings per share is 0.32 and it is up by 325.43%.

Unity admitted that the new fees created friction with customers, but the company also indicated that new fees to have a minimal benefit in 2024 and the rise will be there as customers adopt new releases.

Meta Platforms Inc (NASDAQ: META)

Meta Platforms Inc (Meta), formerly known as Facebook Inc, provides social networking, advertising, and also business insight solutions. It facilitated people to connect with family and friends through their major products like Facebook, Instagram, and WhatsApp.

The company has poured Billions of dollars each quarter into developing metaverse through the Meta Quest AR/VR headsets. As per Google Finance, it has a previous close at $358.32. It has a market cap of 909.63B USD. The stock has a P/E ratio of 31.88. The revenue of the stock is 34.15B which is up 23.21%. 

The stock shows a net income of $11.58B which is up by 163.55%. The net profit margin is 33.92 which is up by 113.87%. The earnings per share is 4.39, which is up by 167.68%. The point that should be neglected is that the company has more than 3 Billion monthly active users and it also generated net income of nearly $11.6 Billion last quarter alone. Meta could be a massive winner in the coming years.

Coinbase Global Inc (NASDAQ: COIN)

It is an American publicly traded company that operates a cryptocurrency exchange platform. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam. The stock on Google Finance shows that it has a previous close of $186.36. It has a day range between $171.00-$187.25. The stock has a market cap of 41.61B USD. It has an average volume of 13.13M.

The data shows that the stock has a revenue of 623.00M, which is up by 8.09%. It has a net income of -$2.27M, which is up by 99.58%. The net profit margin is -0.36 which is up by 99.62%. The earnings per share is -0.57 which is up by 73.38%.

Though the Coinbase metaverse stock in the metaverse industry is still at a very early stage, Coinbase has shown growth in cryptocurrency trading. Hence, the stock is expected to show positive growth.

Summary

Metaverse Stocks are attracting investments and this is the right time to invest in these stocks as tech companies are investing in them. Yet, those stocks can show fluctuations. Hence, expert guidance and knowledge of the field is necessary before making any investments.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.