Unity Software In (U) – [ One For The Metaverse]

If you haven’t read our latest post on some of the stocks we’re looking at for the metaverse then you’re missing out! So click HERE to have a read and you’ll be introducing another company called Unity to look at for the metaverse.

Unity Software Inc. operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices.

In Q3 2021, Unity surprised investors with the acquisition of Weta Digital, a visual effects technology company, for $1.6B. Weta is expected to add $70M of revenue in 2022. This could help to drive unity forward in the creation of the metaverse.

Unity seems well-positioned to capture revenue streams from both building the digital infrastructure of the metaverse and participating in the NFT economy.

This stock is quite closely tied up with the future metaverse and with the recent pullback, this might offer a chance to jump in.

As there was much hype with the metaverse, we saw a push in unity’s price as investors got excited about the prospect for it. It has since corrected about 40% which might present a chance to start scaling in. The support of around $128 is holding well and we can also see that it has cut above the downtrend line. The current resistance is around $146 and a clear break of that with volume might see it move up in the near term. We’re looking at targets of $157 and then $173.

Keeping a look out!

Yours

Humbly

Kelwin&Roy

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