The metaverse continues to capture imaginations and investment dollars, making it crucial to identify key players in this evolving digital landscape. While many companies are vying for a piece of the metaverse pie, a few stand out due to their existing infrastructure, strategic initiatives, and overall market presence. This article takes a quick dive into NVIDIA, Accenture, and Globant as major players in the metaverse environment. We’ll point out other stocks worth considering and provide you with a well-rounded point of view by returning to other stocks recommended by experts.
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Top Metaverse Stocks to Consider
A handful of companies stand to gain the most from the development of the metaverse. MarketBeat recently profiled five of those stocks. These are the kinds of stocks top analysts are recommending under the radar to their clients—stocks that make for some of the best investments before Wall Street catches on. Of the main players, NVIDIA, Accenture, and Globant stand out in particular. Besides these, though, SK Telecom and Everbright Digital are shaking it up and deserve attention.
NVIDIA (NVDA)
Today, NVIDIA is a worldwide household name and it’s easy to understand why – they’re the world’s leading manufactures of graphics processing units (GPUs). These GPUs are absolutely critical to rendering the highly-detailed, immersive visual environments that will be at the heart of everyone’s metaverse experience. Without cutting-edge processing capabilities, the metaverse would be a laggy, unimmersive letdown. NVIDIA’s technology runs in everything from virtual reality headsets to the data center servers that host metaverse platforms.
Yet NVIDIA wasn’t one of MarketBeat’s top five metaverse stocks. Its role as a provider of foundational technology is just as critical and deserves greater attention. Beyond that, its depth and breadth of the industry is even more impressive with its Omniverse platform for building and running metaverse applications. Investors should carefully consider NVIDIA's long-term potential within the metaverse ecosystem, even if it's not currently a top pick for immediate gains.
Accenture (ACN)
Perhaps the biggest proponent of metaverse-centered work and services, Accenture is a massive global consulting and professional services firm. Accenture has a $191.72 billion market cap. They offer a range of services, including consulting, technology, and outsourcing, and are helping businesses navigate the complexities of building and implementing metaverse strategies. Accenture is currently building metaverse solutions with and for companies in industries from retail to manufacturing.
Accenture’s deep specialization comes from its unique ability to connect the physical and virtual worlds. They assist enterprises in understanding potential use cases, creating MVPs, and scaling metaverse efforts. Combined, this wide-reaching approach allows them to be a key collaborator for brands and businesses trying to make their mark in the new frontier of the metaverse. As of mid-day trading on Thursday, Accenture’s stock was off $5.92, to $306.11. Accenture has a 52-week low of $275.01 and a 52-week high of $398.35. The company’s money management is impeccable as well evidenced by a debt/equity ratio of 0.17. Additionally, it has a quick ratio and current ratio of 1.48 respectively.
Globant (GLOB)
Globant is another important player that maintains a global role in providing technology services. As of December 15, 2022, Globant had a market capitalization of $4.44 billion. From the beginning, they have specialized in creating visionary digital experiences and solutions, driven by a passion for innovation and emerging technologies. Globant’s strengths are displayed in cutting-edge practices across artificial intelligence, blockchain, and cloud computing. Their unique expertise places them at the forefront of shaping the future of the metaverse.
At Globant we believe that creating immersive and engaging experiences not only help differentiate brands, but connect them with their customers in more meaningful ways. They partner with brands to construct immersive virtual storefronts, design interactive training simulations, and engineer all shapes of metaverse solutions. On Friday, Globant’s traded up $1.34 midday to $100.73. Globant’s stock was trading at a 52-week low of $88.03 and 52-week high of $238.32. These characteristics demonstrate a strong financial health, as exhibited with a debt to equity ratio of 0.13. Further, it has a fast ratio and a current ratio of 1.56.
Everbright Digital (EDHL)
Though perhaps less familiar than NVIDIA or Accenture, Everbright Digital is another metaverse pioneer that is advancing the metaverse space. Everbright Digital focuses on creating digital assets. Its efforts align perfectly with the increasing hunger for digital content and virtual experiences. This focused positioning creates an interesting player to track in the metaverse space.
SK Telecom (SKM)
SK Telecom is one of South Korea’s largest wireless telecommunication network operators and has been heavily investing in metaverse-related technologies. SK Telecom is exploring metaverse platforms and applications, chiefly with the goal of building immersive and interactive experiences for its users. Its initiatives show that they are serious about helping to create what the future of digital interaction and entertainment will look like.
Is Now the Right Time to Invest in NVIDIA?
Just like investing in stocks, you need to do your homework. You’ll want to consider the current market conditions, the performance of that company, and what your larger investing goals are. While NVIDIA's technological prowess in the metaverse is undeniable, potential investors should weigh the following points:
Market Volatility: The metaverse is still in its early stages, and the market is subject to volatility. Investing in metaverse-related stocks carries inherent risks.
Company Valuation: Assess NVIDIA's current valuation relative to its future growth potential. Determine whether the stock is fairly priced, overvalued, or undervalued.
Competition: The metaverse landscape is becoming increasingly competitive. Evaluate NVIDIA's position relative to its competitors and its ability to maintain its market share.
Insights on Recent Stock Movements
Following the latest stock advances will help you understand what’s happening from a market sentiment and investment opportunity perspective. Keep an eye on the highest dollar trading volume of Metaverse stocks to gauge investor interest and identify potential trends.
Accenture’s stock traded down $5.92 during mid-day trading on Thursday, hitting $306.11. Globant’s stock traded up $1.34 during midday trading on Friday, to $100.73. Keeping a finger on the pulse of these movements will allow investors to make smart, informed decisions that are backed by real-time market data.
Congress Bought This Stock at the Bottom—Will You Miss It?
Perhaps even more interesting, they report the cases of members of Congress timing their own purchases of stock for profit—including buying shares in certain tech companies. It is important to note that MarketBeat offers resources to track congressional stock trades, providing valuable insights into potential investment opportunities based on the actions of elected officials. This data should help serve as one piece of information among many to inform where investments will do the most good.
Though the metaverse offers big potential for new growth and innovation, it’s important to invest with a level head. By carefully evaluating the key players, staying informed about market trends, and utilizing resources like MarketBeat, investors can make informed decisions and navigate the evolving metaverse landscape.
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