Don't Look Now, But Zuckerberg's Threads Is Picking Up Steam
Portfolio Pulse from Bibhu Pattnaik
Meta Platforms Inc.'s (NASDAQ:META) Threads app has seen a significant increase in user engagement and web traffic since its launch in July 2023. Monthly active users in the U.S. grew by 15.8% and by 6.3% in the U.K. from August 2023 to May 2024. In June 2024, traffic to Threads.net increased by approximately 9% compared to its launch month. Despite this growth, Threads still lags behind X in terms of monthly active users, although X's user base is declining.
July 27, 2024 | 5:17 pm
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Meta Platforms Inc.'s Threads app has experienced a significant increase in user engagement and web traffic, indicating growing traction. This growth could positively impact Meta's stock price in the short term.
The substantial increase in user engagement and web traffic for Threads suggests growing popularity and user adoption. This positive trend could enhance Meta's overall revenue and market position, leading to a potential short-term increase in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100