Meta Unfurls Threads, But Tangles With Threads.com, Started By 3 Former Facebook Employees
Portfolio Pulse from Chris Katje
Meta Platforms Inc (NASDAQ:META) has launched Threads, a text-based social media platform, which has gained over 10 million downloads. Threads is seen as a potential competitor to Twitter and has sparked interest among users. However, the name Threads is already owned by a different company, founded by three former Facebook employees, which provides a Slack replacement for companies. This could potentially lead to confusion among consumers. Salesforce Inc (NYSE:CRM) acquired Slack in July 2021. Meta Platforms is also the third largest holding in the Roundhill Ball Metaverse ETF (NYSE:METV) at 5.9% of assets.
July 06, 2023 | 6:21 pm
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NEUTRAL IMPACT
Meta Platforms' launch of Threads could potentially boost its stock price due to the platform's popularity. However, the name confusion could also negatively impact the company.
The launch of Threads could potentially increase Meta's stock price due to the platform's popularity. However, the name confusion could lead to potential legal issues or consumer confusion, which could negatively impact the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Meta Platforms is the third largest holding in the Roundhill Ball Metaverse ETF. The launch of Threads could potentially impact the ETF.
As Meta Platforms is a significant holding in the Roundhill Ball Metaverse ETF, any major news or changes in Meta's stock price could potentially impact the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Salesforce, which acquired Slack in 2021, could potentially be impacted by the launch of Threads, a Slack replacement.
As Salesforce owns Slack, the launch of Threads, a Slack replacement, could potentially lead to increased competition and negatively impact Salesforce's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50