These Chinese stocks can benefit if the metaverse takes off, JPMorgan says
In this article JPM Some parts of China have officially promoted metaverse development plans. Pictured here is a metaverse exhibition area at an annual services trade expo in Beijing on Sept. 1, 2022. China News Service | China News Service | Getty Images BEIJING — When it comes to futuristic concepts like the metaverse, JPMorgan analysts think they've found a strategy for selecting Chinese stock plays. The metaverse is loosely defined as the next iteration of the internet, existing as a virtual world in which humans interact via three-dimensional avatars. Hype around the metaverse swept through the business industry about a year ago. But in the United States at least, it isn't gaining the momentum that companies such as Facebook had hoped. The social network giant even changed its name to Meta last year. However, its shares are down more than 50% this year — far worse than the Nasdaq's roughly 24% decline. China faces the same consumer adoption problems as the United Sta...