Meta’s Threads is a true threat to Twitter, say analysts FMTNews FMTBusiness
Meta Platforms’ shares were up 1% in premarket trading, after they closed 3% higher in the previous session ahead of the roll out of Threads.
Meta Platforms’ shares were up 1% in premarket trading on Thursday, after they closed 3% higher in the previous session ahead of the roll out of Threads. While Threads is a standalone app, users can log in using their Instagram credentials, which makes it an easy addition for Instagram’s more than two billion monthly active users.
Some analysts said Threads was reminiscent of Meta’s success in integrating crucial features of platforms such as Snapchat and TikTok in the case of Instagram’s Stories and Reels, respectively. Available in more than 100 countries, Threads was the top free app in Apple’s US App Store, while Twitter ranked 26.
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