By Dhirendra Tripathi
Investing.com – Shares of Facebook-owner Meta Platforms (NASDAQ:FB) traded 0.8% higher in Tuesday’s premarket following on yesterday's gains on reports of there being a strong demand for its Oculus virtual reality headsets in the current holiday season.
Citing the rankings of the app in Apple (NASDAQ:AAPL) store, KeyBanc analyst Justin Patterson put out a report Sunday saying that Oculus was likely a popular gift over the holiday season.
According to Bloomberg, Patterson wrote that Oculus was “a top 5 entertainment app in five countries and a top 10 overall app in the U.S.” on Christmas Eve, and that the ranking “was even greater on Christmas Day,” as it was the number 1 overall app in the U.S. Christmas also put it among the top 5 entertainment apps in 14 countries.
According to StreetInsider, by December 26, the app’s ranking slightly worsened, but was still among the top 5 entertainment apps in 11 countries and number 2 overall in the U.S.
Facebook shares are up 6.7% this month, though still off 10% of their September 1 peak of $384.33. The stock gained 3.3% Monday to close at $346.18.