FB Stock Boosted By Unveiling of New Oculus Features

FB stock

FB stock is trading up 1.5% today as Facebook (NASDAQ:FB) unveiled a host of new features at its Oculus Connect 6 Keynote in California.

Facebook has been trying to popularize augmented ad virtual reality technology since it purchased Oculus for $2 billion USD back in 2014, and today it took a significant step forward in those attempts by unveiling a host of new features for the technology. Thus far, consumer uptake of Oculus has been limited mostly due to the hefty price tag of the headset and the relatively limited uses of the technology. The company has moved to address these issues during the Oculus Keynote, which is taking place between September 25 and 26 and has seen FB stock jump to $182.80.

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Some of the new features include the ability of the headset to sense the user’s hands and essentially reproduce them in the virtual world without the need for controllers. Speaking at the conference in San Jose, Mark Zuckerberg said, “The hardware is getting out of the way, and with each step, we’re getting to a more immersive and natural experience. The first time you just wiggle your fingers and you see that full range of motion in your hands, it takes the experience to a whole new level.” FB stock has gained over 10% since Zuckerberg spoke at last year’s keynote.

Oculus will also add new social capabilities to its technology, which are intended to integrate Facebook’s VR division more closely with its core social media network. The technology will add a chat feature that will allow users to exchange messages from device to device, as well as an events planning feature similar to what already exists on Facebook. While many Oculus users would prefer the technology to be purely focused on gaming, the new features underline just how much Zuckerberg wants to advance AR and VR technology in the mainstream.

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Following last year’s Oculus Keynote, FB stock gained about 2.5% after the company unveiled the Oculus Quest headset, and following the reveal of new features today, it looks as though we can expect some similar share value movement.

While you’re here, why not have a look at why we think VR is worth building an investment portfolio for?

Featured Image: Deposit Photos © TarasMalyarevich