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Is Glimpse Group a Good Virtual Reality Stock to Buy? -Breaking

by Mike Robinson

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© Reuters. Glimpse Group is a good virtual reality stock to buy?

Glimpse, a digital reality company (VRAR), shares have seen a significant increase in value over the last few months. The company is also implementing strategic acquisitions and has formed partnerships to expand its virtual reality portfolio. We believe the stock is overpriced for its current level. So, will VRAR be a good addition to one’s portfolio now? Continue reading.Glimpse group, Inc. (VRAR), a New York City virtual reality and augmented reality company, provides software and services for enterprises in the United States. VRAR’s shares soared in price on their first trading day in July. From its $7.00 per share public offering price, the stock rose above $18 in just one day. The hype didn’t last long and shares quickly retreated to their offer price. However, shares have gained substantially over the past 3 months. Currently the stock is trading higher than its 50-day or 200-day moving medians.

Due to the widespread adoption of AR and VR in many verticals, AR and VR are on the rise. VRAR has made significant investments to expand its portfolio, acquire new companies, and establish strategic alliances. VRAR purchased assets from XR – a supplier of VR software design courses and VR/AR software development courses – in September. VRAR did not assume any liabilities as the acquisition was an asset acquisition. Moreover, this marks VRAR’s eleventh acquisition of a subsidiary company. It also started development in Non-Fungible Token (“NFT”) area. VRAR is now utilizing its strong technology in emerging Crypto and NFT segments. Over the last few months, VRAR has formed several partnerships.

However, VRAR’s operating expenses increased 67% year-over-year in the company’s last reported quarter, leading to negative operating income of $1.40 million. The net loss of the company was also $1.66m, which represents a 29.7% increase in year-overyear. This increase can be explained by increased headcount for growth and the expenses associated with VRAR status which is a publicly-traded corporation.

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