Meta Platforms Launches Test of Secure Storage on Messenger

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Meta Platforms ($NASDAQ:META) announced on Thursday that it is testing a new feature called secure storage on Messenger. This feature will allow users to back up their encrypted chats, as well as other data, in a secure location. The company said that this move would help people who lose their phone or need to restore their message history on a new device. It is not yet clear how this new feature will affect Meta Platforms’s market and earnings in the long term.

However, it is likely that the secure storage of users’ data will be seen as a positive step by many people.

Market Reaction

On Thursday, Meta Platforms stock opened at $179.7 and closed at $177.5. The test will allow users to store their data securely on Messenger and access it from any device. Meta Platforms is the first company to launch a product on Messenger that uses the platform’s new security features.

VI Analysis

Company’s fundamentals reflect its long term potential, below analysis on Meta Platforms are made simple by VI app. Based on VI Star Chart Meta Platforms has a high health score of 8/10 considering its cashflows and debt, is capable to pay off debt and fund future operations. Meta Platforms is classified as ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. High growth companies are deemed more risky as they attempt to grow faster. Meta Platforms is strong in asset, growth, profitability, and weak in dividend.

Summary

The test is designed to evaluate the feasibility of using Messenger as a secure storage platform for sensitive information. The test will be conducted over a period of several weeks, and the results will be used to determine whether Meta Platforms will offer its secure storage solution to Meta Platforms Messenger users on a permanent basis.

However, analysts believe that the long-term potential for Meta Platforms’ secure storage solution on Messenger is significant. If the test is successful, it could mean that Meta Platforms will become a major player in the secure storage market, which is currently dominated by a handful of large companies.