Meta's Threads Reaches 200M Users, Rivaling X in Social Media Race
Portfolio Pulse from Anusuya Lahiri
Meta Platforms Inc (NASDAQ:META) has achieved a significant milestone with its social media platform, Threads, reaching 200 million active users. This growth highlights Meta's continued dominance in the social media space. The company plans to leverage its digital advertising success to offer more targeted ads on Threads. Despite this achievement, META shares traded lower by 1.39% at $490.84.
August 02, 2024 | 4:27 pm
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Meta Platforms Inc's social media platform, Threads, has reached 200 million active users, showcasing significant growth. The company plans to leverage its digital advertising success to offer more targeted ads on Threads. Despite this achievement, META shares traded lower by 1.39%.
The rapid growth of Threads to 200 million users is a positive indicator of Meta's continued dominance in the social media space. The company's plan to leverage its digital advertising success for more targeted ads on Threads could further enhance revenue. However, the short-term stock price decrease suggests market volatility or profit-taking.
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