- NASDAQ:FB gained 2.07% during Thursday’s trading session.
- Instagram steps up rules to help protect children on the app.
- HSBC enters the Metaverse as it buys land in the Sandbox.
NASDAQ:FB may be bouncing higher after finding a bottom following one of its most disappointing earnings reports in the company’s history earlier this year. On Thursday, shares of FB gained a further 2.07% and closed the trading day at $207.84. It’s been the week FB shareholders were waiting for after the stock tumbled in early February. Shares are now up by 7.7% this week, as the NASDAQ extends its recent rebound, by adding a further 1.33% during Thursday’s session. The S&P 500 also climbed by 1.23% and the blue-chip Dow Jones gained a further 417 basis points to cap off another bullish day.
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Meta Platforms is working hard to limit what minors are able to see and experience in the Metaverse with virtual reality headsets. The company will allow parents to access the dashboard in the Oculus headset to monitor which apps have been installed, when a purchase is made, how much time is spent in the Metaverse, and who their friends are. Meta also upped its Instagram safety as it rolled out some supervisory settings where parents can monitor how much time is spent on the app and who the child is following or visiting on the site.
Facebook stock price
Another major institution is getting involved in the Metaverse this week as global banking power, HSBC, purchased a virtual plot of land in the Sandbox. While this isn’t necessarily the Metaverse that Meta Platforms is involved in, it does lend further legitimacy to the space, and investors should note how many major institutions have started to invest in the growing digital industry.
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