Meta Platforms Inc. (NASDAQ:META) is set to acquire a 5% stake in Essilorluxottica (OTC:ESLOY), a move that has caught the attention of financial expert Jim Cramer. He believes this deal could be a game-changer for Meta’s future in the wearable tech space.
What Happened: Cramer, host of CNBC’s “Mad Money,” expressed his views on “Squawk Street” on Thursday about the future of Meta Platforms in the wearable tech industry. The company’s stock saw a rise following the news of the potential investment in EssilorLuxottica.
The deal with EssilorLuxottica, the manufacturer of Ray-Ban smart glasses, is seen as a significant development by Cramer. He highlighted the intense production at the company’s Italian factory and the potential for “instant AI” use cases with the smart glasses.
All eyes are on , with reports that they're taking a 5% stake in Ray-Ban parent EssilorLuxottica. How are things looking from here? ...