Delving Into Meta's Remarkable 139% Stock Price Rise And Evaluating Whether Their New App 'Threads' Could Propel The Momentum Even Higher

• Meta, is set to launch Threads, a "text-based conversation app". This innovative app aims to compete directly with Twitter, a significant move in the global social media space.
• Meta plans to make Threads available in more than a hundred countries.
• Meta's stock has shown a consistent bullish trend since November 2022, with each month closing up ever since.
• Meta's stock price has seen an unprecedented surge in the past year. With a total increase of 139% since the start of the year.

Meta Platforms Inc META, the parent company of Facebook and Instagram, is ready to release its newest creation called Threads.

This innovative application dubbed a "text-based conversation app," aims to go head-to-head with social media giant Twitter.

But what sets Threads apart is its seamless integration with Instagram, enriching Meta's ecosystem and enhancing user engagement.

Meta's highly anticipated Threads feature will soon be available in over a hundred countries, with plans for even more expansion in the near future.

While the complete list of countries remains undisclosed, both users and investors are eagerly awaiting the impact this release will have on stock market trends.

Meta's launch of Threads is a crucial step in its comprehensive plan to dominate the global social media market.

Although it is difficult to determine the exact effect of this release on Meta's stock performance, all signs point to positive outcomes.

Since November 2022, Meta's stock price has consistently closed above the monthly opening price for each month, resulting in an impressive bullish rally.

In December 2022, Meta saw a 1.78% increase in stock price. But January 2023 was a game-changer, with a remarkable surge of over 23%.

This impressive rally adds up to an astounding 139% increase in Meta's stock price since the start of the year.

And the positive trend continues this month, with the price already rising by 2.53% in just a few days, signaling ongoing bullish momentum.

The stock price is approaching the important resistance level of $300. This same level held strong back in August 2020.

Breaking through this barrier could lead to a possible surge in the stock price, potentially reaching the all-time high of $384, which was created in August 2021.

After the closing bell on Wednesday, July 5, the stock closed at $294.37, trading up by 2.92%.