4 Metaverse Stocks To Check Out This Week
WIth the broader stock market under pressure lately, some may be taking the opportunity to buy metaverse stocks on the cheap. After all, as COVID-19 continues to disrupt social schedules, more people have turned to online games to recreate canceled gatherings. And that gives some a glimpse of a world reborn in pixels. What’s more, this trend could continue, at least in the near term. While the Omicron variant seems to cause less severe disease than other variants, it is too soon to say if this will be the beginning of the end of the pandemic.
This gives all the more reasons for companies to continue looking into the metaverse, considering its limitless possibilities. On one hand, we have tech conglomerate Meta Platforms (NASDAQ: FB) actively trying to push the boundaries and make the metaverse a reality. And on the other, we have Matterport (NASDAQ: MTTR) building tools to bridge to help digitize our built world. Furthermore, seeing that more and more companies are hopping on the metaverse bandwagon, it may suggest that the metaverse isn’t just a gimmick. With that being said, here are 4 metaverse stocks to check out in the stock market today.
Top Metaverse Stocks For Your January 2022 Watchlist
- Walmart Inc. (NYSE: WMT)
- Gap Inc. (NYSE: GPS)
- Mattel Inc. (NASDAQ: MAT)
- Ralph Lauren Corp. (NYSE: RL)
Walmart
Kicking off our list, we have big-box retailer Walmart. From hypermarkets to discount department stores, and to grocery stores, Walmart has and continues to cater to customers worldwide. For a sense of scale, the company serves over 200 million customers per week across its global network of stores and e-commerce platforms. Walmart achieves this by offering shoppers a wide array of products ranging from consumer staples to home electronics.
Over the weekend, news broke of the company planning to venture into the metaverse. Supposedly, the company intends to create its own cryptocurrency and collection of nonfungible tokens, or NFTs for short. According to a report by CNBC, Walmart filed several new trademarks towards the end of December. The trademarks indicate the company’s intent to make and sell virtual goods including electronics, toys, sporting goods to name a few.
Besides that, in a separate filing, it said it would offer users a virtual currency, as well as NFTs. “There’s a lot of language in these,” said Josh Gerben, a trademark attorney. This shows that Walmart is likely taking the metaverse seriously and is planning on ways it could expand its addressable market into the growing industry. With Walmart looking to enter the metaverse, would you consider buying WMT stock?
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Gap
Another name on this list is Gap. In short, the company primarily operates as a clothing retailer. It is among the top clothing brands in America and around the world. This would certainly be the case given that it boasts a wide collection of global brands in its portfolio. Specifically, these brands include Old Navy, Banana Republic, Gap, and Athleta clothing divisions.
Recently, the company launched NFTs of its iconic Gap logo hoodies. This was the legacy clothing company’s first attempt at the metaverse, following similar moves by other clothing companies such as Nike (NYSE: NKE) which announced the acquisition of NFT maker RTFKT. For the most part, Gap’s NFTs will range from $8.30 to $415 for a collectible that comes with a physical hoodie.
On top of that, it is collaborating with Brandon Sines, the Frank Ape cartoonist, on an NFT collection hosted on the Tezos blockchain. Tezos uses an energy-efficient approach to secure its network, unlike other cryptocurrencies who often have been criticized for their large carbon footprint. With that being said, would you be watching GPS stock?
Mattel
Next up, we have Mattel. In short, the company manufactures toys and is a long-standing titan in the global toy manufacturing industry. It boasts familiar flagship brands such as Barbie, Hot Wheels, and Uno among other childhood favorites. Additionally, the company’s products are readily available in over 150 countries worldwide. Over the past 6 months, MAT stock has risen by over 18%.
Just last week, Barbie and luxury fashion house Balmain partnered up for an NFT fashion collaboration. Accordingly, the two are working together to offer three one-of-a-kind NFTs of iconic Barbie and Ken avatars. This will be in addition to a clothing and accessories collection. Subsequently, the NFTs will be available exclusively through Mattel Creations, an e-commerce platform that connects Mattel brands with global creators to produce limited-edition creations.
In other news, Mattel got a rating boost from neutral to buy at MKM Partners, citing an “under-appreciated” 2022 product lineup and capital structure optionality. MKM Partners analyst Eric Handler raised his rating to buy after being at neutral for the past three years. Notably, he also raised his price target from $24 to $30. All things considered, does MAT stock deserve a spot on your watchlist?
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Ralph Lauren
Last but not least, we have Ralph Lauren. The company is a global leader in the design, marketing, and distribution of premium lifestyle products. It operates in the apparel, accessories, home, fragrance, and hospitality categories. Besides that, the company makes products that target the mid-range to luxury segments. In the past year, RL stock has increased by over 29% in price.
Yesterday, CEO Patrice Louvet said that the company will be looking to the metaverse to attract the younger generation. In December, the company made its debut into the metaverse scene. Namely, it launched The Ralph Lauren Winter Escape experience with Roblox (NYSE: RBLX). Briefly, it was an in-game holiday-themed experience that allowed players to dress their avatars in Ralph Lauren clothing and go on a treasure hunt to unlock exclusive accessories.
Looking at the company’s last quarter financials, it reported a revenue of $1.5 billion. That was a 26% year-over-year increase which was above the company’s expectations. It also reported diluted EPS of $2.57, a huge increase from the prior year’s $0.53. With Ralph Lauren looking for avenues to branch into, would you consider buying RL stock?
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