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Facebook Is Bringing You Into the Metaverse


Last week, Facebook CEO Mark Zuckerberg said his company is pivoting toward the metaverse.

Facebook is going to spend $10 billion on it next year. It will spend $100 billion over the next decade building it.

Think about it: There are billions of monthly active users on Facebook. The scale of this is enormous.

Facebook touches half of the entire planet. It seems like everyone has a Facebook account.

And now Facebook is bringing you into the metaverse.

In today’s video, Steve Fernandez and I discuss why Facebook is the key to Web 3.0.

(If you’d prefer to read a transcript, click here.)


Ian King

Editor, Strategic Fortunes

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Grid Dynamics Holdings Inc. (Nasdaq: GDYN) provides enterprise-level digital transformation services. It is up 27% today after reporting both an earnings and revenue beat for Q3, driven by higher demand in all segments as businesses look to improve their digital presence.

BigCommerce Holdings Inc. (Nasdaq: BIGC) operates a software-as-a-service platform for e-commerce companies. It is up 26% this morning on positive earnings news. The company beat revenue and earnings expectations thanks to sharp growth in recurring subscription revenue for its services.

Shake Shack Inc. (NYSE: SHAK), the fast-food chain, is up 22% today after reporting earnings. The company fell short of revenue expectations, but the stock rose after it stated that it was on track to report $1 billion in sales for Q4, a first in company history.

Canada Goose Holdings Inc. (NYSE: GOOS), the maker of performance luxury apparel, is up 21% this morning after reporting strong Q3 results. The company as able to beat top- and bottom-line estimates and even raise guidance thanks to not being affected as badly by the recent supply chain problems.

Confluent Inc. (Nasdaq: CFLT) develops cloud platforms that help companies connect their applications around real-time streams. It is up 19% after reporting results for Q3 with an earnings beat and the highest revenue in company history.

IGM Biosciences Inc. (Nasdaq: IGMS) is a biotechnology company that develops Immunoglobulin antibodies for the treatment of multiple diseases. It is up 19% after reporting results for Q3 that showed that the company was on track with developing the therapies in its pipeline.

Apollo Medical Holdings Inc. (Nasdaq: AMEH) is a health care management company. It is up 18% after beating earnings and revenue estimates for Q3 and raising guidance for full year 2021.

AMC Networks Inc. (Nasdaq: AMCX), the entertainment company, is up 18% after reporting earnings for Q3 that exceeded expectations thanks to an uptick in content licensing deals and media production schedules resuming after the pandemic shutdown.

Lions Gate Entertainment Corp. (NYSE: LGF.B), the film and television entertainment company, is up 17% after the announcement that it is considering a spin-off or sale of the network Starz. The acquisition of Starz in 2016 strengthened the company’s television business but added to its debt load.

Expedia Group Inc. (Nasdaq: EXPE), the operator of the online travel company, is up 16% after reporting stronger-than-expected results for Q3, thanks to the post-pandemic recovery in the travel sector.

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