Top Metaverse Stocks to Watch: Promising Picks for July 2023
Top metaverse Stocks to Monitor: NVIDIA, Accenture, and More
Overview of metaverse Stocks
According to MarketBeat’s stock screener, seven companies are currently leading the metaverse sector: NVIDIA, Accenture, Future FinTech Group, Globant, Everbright Digital, SK Telecom, and PowerUp Acquisition. These stocks represent publicly traded firms that are pivotal in creating and supporting the hardware, software, and platforms essential for the metaverse—a collection of immersive virtual and augmented reality spaces. This includes businesses engaged in VR/AR technology, 3D content creation, blockchain assets, gaming, social networking, and cloud services. Investors are increasingly interested in these stocks as they seek to capitalize on the expected expansion of interconnected digital environments where users can socialize, work, and play. Recently, these companies recorded the highest trading volumes among metaverse stocks.
NVIDIA (NVDA)
NVIDIA Corporation specializes in graphics, computing, and networking solutions across various regions, including the U.S., Taiwan, China, and Hong Kong. The company’s Graphics division provides GeForce GPUs for gaming and personal computers, the GeForce NOW game streaming service, and infrastructure solutions for gaming platforms. Additionally, NVIDIA offers Quadro/NVIDIA RTX GPUs for enterprise graphics, virtual GPU software for cloud computing, automotive platforms for infotainment, and Omniverse software for developing metaverse and 3D internet applications.
On Friday, shares of NVDA rose by $2.31, reaching $166.41. The trading volume for the day was 121,011,616 shares, significantly higher than the average of 266,140,033. The stock’s 50-day moving average stands at $140.52, while the 200-day moving average is $128.60. Over the past year, NVIDIA’s stock has fluctuated between a low of $86.62 and a high of $167.84. The company maintains a debt-to-equity ratio of 0.10, a quick ratio of 2.96, and a current ratio of 3.39. With a market capitalization of $4.06 trillion, the stock has a price-to-earnings ratio of 53.68, a P/E/G ratio of 1.44, and a beta of 2.13.
Accenture (ACN)
Accenture plc is a global professional services firm that offers a wide range of services, including strategy and consulting, technology, and operations. The company provides application services such as agile transformation, DevOps, application modernization, and enterprise architecture. It also specializes in intelligent automation, data management, and analytics, along with metaverse and sustainability services.
On Friday, shares of ACN decreased by $7.23, settling at $281.13. The trading volume reached 2,092,830 shares, compared to an average of 2,913,734. Accenture’s stock has a 52-week low of $273.19 and a high of $398.35. The company boasts a market cap of $176.08 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 2.79, and a beta of 1.29. Its 50-day moving average is $309.49, while the 200-day moving average is $327.92. The firm has a debt-to-equity ratio of 0.16, a quick ratio of 1.46, and a current ratio of 1.46.
Future FinTech Group (FTFT)
Future FinTech Group Inc. operates online shopping platforms in China through its subsidiaries. The company is divided into three segments: Supply Chain Financing, Asset Management, and Others. It provides services such as cross-border money transfers, brokerage, investment banking, and cryptocurrency mining.
On Friday, FTFT shares increased by $1.67, reaching $3.18. The trading volume was 69,155,832 shares, far exceeding the average of 734,532. The stock has a one-year low of $1.01 and a high of $5.70, with a 50-day moving average of $1.34 and a 200-day moving average of $1.93.
Globant (GLOB)
Globant S.A. delivers technology services globally, focusing on digital solutions that encompass blockchain, cloud technologies, cybersecurity, data analytics, and the metaverse. The company also offers enterprise technology solutions, including Agile organization and process optimization services.
On Friday, GLOB shares fell by $1.88, reaching $85.61. The trading volume was 270,771 shares, compared to an average of 737,313. The stock has a one-year low of $85.49 and a high of $238.32, with a market cap of $3.77 billion. The P/E ratio is 25.40, the PEG ratio is 2.86, and the beta is 1.20. The company has a current ratio of 1.56, a quick ratio of 1.56, and a debt-to-equity ratio of 0.13.
Everbright Digital (EDHL)
Everbright Digital is an integrated marketing solutions provider based in Hong Kong, heavily involved in the metaverse and related technologies. The company aims to offer comprehensive digital marketing services tailored to meet the evolving needs of its clients.
On Friday, shares of EDHL rose by $0.10, reaching $5.82. The trading volume was 1,301,355 shares, compared to an average of 866,716. The 50-day moving average price is $4.92, with a one-year low of $3.51 and a high of $6.88.
SK Telecom (SKM)
SK Telecom Co., Ltd. is a leading telecommunications provider in South Korea, operating through three segments: Cellular Services, Fixed-Line Telecommunications, and Other Businesses. The Cellular Services segment offers wireless voice and data services, IoT solutions, and metaverse platform services.
On Friday, SKM shares increased by $0.01, reaching $22.31. The trading volume was 133,071 shares, compared to an average of 317,617. The stock has a market cap of $8.79 billion, a P/E ratio of 9.22, and a P/E-G ratio of 10.74. The 50-day moving average is $21.62, while the 200-day moving average is $21.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86, and a current ratio of 0.88. The stock has fluctuated between a low of $19.84 and a high of $24.58 over the past year.
PowerUp Acquisition (PWUP)
PowerUp Acquisition Corp. is a special purpose acquisition company (SPAC) that focuses on merging with or acquiring businesses in the gaming and metaverse sectors. Currently, it does not have significant operations.
On Friday, PWUP shares rose by $0.02, reaching $0.35. The trading volume was 7,135,042 shares, compared to an average of 3,333. The stock has a 50-day moving average of $0.33 and a 200-day moving average of $3.79, with a one-year low of $8.05 and a high of $15.80.
Conclusion
These seven companies represent a dynamic segment of the market, reflecting the growing interest and investment in the metaverse. As technology continues to evolve, these stocks may offer significant opportunities for investors looking to engage with the future of digital interaction.
