China Metaverse Stocks Slide After Newspaper Warns Day Traders
- AVIT and Shenzhen ZQGAME fall after metaverse commentary
- Retail traders should avoid “immature” concept: Economic Daily
The idea of the metaverse exploded onto trading screens after Facebook rebranded as Meta Platforms Inc.
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Stocks linked to the so-called metaverse slumped in mainland China after a local newspaper warned against speculative trading in the nascent concept.
Retail traders shouldn’t be hasty in paying for a new and “immature” concept like the metaverse and many stocks that had been bid up were gaming software makers, a commentary in Economic Daily said. The metaverse is a project that requires long-term investment and construction, the newspaper added.