Don't tell Mark Zuckerberg: investors have already discovered the metaverse
CNN
The company formerly known as Facebook is now calling itself Meta Platforms. But investors looking to cash in on the virtual world known as the metaverse already have plenty of other options besides Mark Zuckerberg's social media giant.
Gaming platform Roblox, which lets users generate their own avatars and play games created by other players, is arguably the most high-profile metaverse stock. Shares of the company have soared almost 160% since it listed directly on the New York Stock Exchange earlier this year.
And with a market cap of nearly $65 billion, Roblox is now worth more than established video game giants Electronic Arts (EA) and scandal-ridden Activision Blizzard (ATVI).
When Kenyan President William Ruto touched down in Beijing seven months ago, he was welcomed on the tarmac with a red carpet and cordons of Chinese troops standing at attention. Among the goals of his three-day state visit in October: Securing another $1 billion in loans from China to help complete infrastructure projects.