Want To Bet On Metaverse? Jim Cramer Says These 4 Stocks Are The Way To Go

Television host Jim Cramer has come up with four names that he says investors should buy if they want to latch on to the metaverse bandwagon.

What Happened: The host of the CNBC “Mad Money” show said Wednesday that Facebook Inc FB parent Meta, Nvidia Inc NVDA, Unity Software Inc U, and Roblox Corp RBLX are his metaverse choices.

“These are the companies that are currently doing the best work in the metaverse. In the end, I think it will succeed or fail based on its ability to create powerful experiences.”

Cramer said that while many companies will try to claim “they got a piece of the metaverse” but for now it is the four stock names he mentioned that “have you covered,” as per CNBC.

The former hedge fund manager laid out different use cases for the metaverse including providing mental health support for lonely seniors and sports.

See Also: How To Buy NVIDIA (NVDA) Stock

Why It Matters: On Wednesday, Unity said it was acquiring Weta Digital, a visual effects company, for $1.625 billion. Weta, the largest single-site VFX studio in the world, is associated with hit films such as “The Lord Of The Rings” and “Avatar.” Cramer noted the purchase in his commentary on Wednesday.

Unity posted a mild earnings beat on Wednesday. The company reported a loss per share of $0.06 beating an estimate of a loss per share of $0.07. 

Gaming firm Roblox reported revenue growth of 102% year-over-year to $509.3 million for the third quarter on Monday.

Last month, Facebook rebranded as Meta in a big bet on the metaverse. The company called metaverse the “next evolution of social connection.”

As per Cramer, he knows that the rebranded Facebook “can do more for mental health.”

Price Action: On Friday in the regular session, Facebook shares closed 2.3% lower at $327.64, Nvidia shares were down almost 3.9% at $294.59, Roblox shares plunged 13.02% to $95.26, and Unity shares rose 2.81% to $176.45.

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