Home Business NewsBusiness ‘Buy Meta stock’ searches have skyrocketed by 390%

‘Buy Meta stock’ searches have skyrocketed by 390%

by LLB Editor
14th Jul 23 8:58 am

Meta’s stock increased nearly 4% on Wednesday morning, making its highest share price in 18 months. This is the following of the preparation and launch of Meta’s Instagram Threads, which has been dubbed the ‘Twitter Killer’ app.

A new finding by UK financial services provider CMC Markets reveals that online interest in the term ‘Buy Meta stock’ has exploded worldwide by 390% in the past seven days, rivalling its competition Twitter who has recent backlash for limiting the number of tweets. Other increasing search terms include ‘How to download threads’, which has a 152% increase and ‘Download threads’ has a 154% increase. In the past day, searches for ‘Twitter vs Threads’ has received a 191% search increase, showing the public is interested in which platform is better.

Perhaps this will further challenge Tesla’s number one position as the most Googled S&P 500 stock in the United Kingdom.

A new study has revealed the UK’s top five most Googled S&P 500 stocks.

The study by UK financial services provider CMC Markets analysed Google data to establish the number of searches for each S&P 500 stock and its symbol in each UK area, determining which is the most popular.

Coming in at number one is the electric car manufacturer Tesla (TSLA), with 260,180 Google searches a month on average in the UK. The American multinational automotive and clean energy company is headquartered in Austin, Texas, with Elon Musk as its Managing Director. According to Tesla’s latest financial reports, the company’s current revenue is $86.03 billion, a $4.57 billion increase from 2022.

Number two on the list is Meta (META), formally known as Facebook, with 84,310 searches a month on average and current revenue of $117.34 billion, $31.31 billion more than Tesla. The American multinational technology company has Mark Zuckerberg as the CEO and is based in Menlo Park, California. Business Insider claims that META’s CTO said that the leaders were spending most of their time on generative AI earlier this month.

In third place is NVIDIA (NVDA), which is searched 58,250 times a month. Nvidia Corporation is one of the biggest developers of graphics processors and chipsets for personal computers and game consoles. As of 2023, NVIDIA has just over 26,000 employees worldwide and has a revenue of $26.97 billion, a decrease of $1.59 billion from last year.

Number four is Alphabet Google (GOOG), which is searched 35,840 times a month. The headquarters is in Mountain View in Silicon Valley, and Sundar Pichai is the company’s CEO. Google’s current revenue is $284.61 billion, a $1.78 billion increase from last year.

Finally, in the UK’s fifth most googled stock is Amazon (AMZN), with 27,720 times a month on average. The Jeff Bezos-founded company is led by Andy Jassy as a CEO, and has current revenue of $513.98 billion, which is larger than the combined revenues of the UK’s top four most googled companies.

A spokesperson for CMC Markets said: “With more and more people having more access to the latest information about stocks in easily digestible forms via social media platforms like TikTok, it has become easier than ever to delve into the world of trading, and this data offers a fascinating insight into which companies attract the most interest from the British public.

“Technology companies are prominent among the UK’s most googled stocks. As the focus on artificial intelligence continues to intensify, it will be interesting to see how each company’s share price fluctuates depending on how they react to technological advances and how it might disrupt their respective industries.”

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