What is GETTR’s stock price, and are they publicly traded? Unfortunately, investors cannot purchase shares of GETTR because they are a private company. However, Meta Platforms (NASDAQ: META) and SNAP (NYSE: SNAP) are social media stocks that traders can invest in.
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GETTR Introduction (No Stock Symbol)
If you are a regular on social media, you’ve probably heard people mention the platform GETTR. But what is GETTR? It’s a brand new social media platform that a former senior aide of President Donald Trump launched.
You can probably see where this is headed without bringing politics into the conversation. GETTR has been described as a Twitter clone, right down to the functionality and user interface. The site was officially launched in beta testing in 2021 and is now open to users worldwide. It is probably more than a coincidence that the site’s launch came as Trump remains banned from Twitter and Facebook. Other popular conservative social media platforms are Rumble and Parler.
Unfortunately, it’s still a privately owned company. If you’ve never heard of GETTR, you’re probably most people. It’s a newer social media platform. As a result, it has a long way to go before ever becoming a publicly-traded company.
GETTR Stock Of the Platform
GETTR is described as a primarily right-wing and conservative platform, although it is open to anyone. Unfortunately, the site got off to a rocky start as internet trolls and those against Trump used the platform to post spam. There were even several hacks that saw the accounts of several high-profile users being compromised.
However, GETTR hit the mainstream when podcast host and comedian, Joe Rogan, joined the site. Rogan’s comments after joining make it seem like he’s not too big of a fan of GETTR. Still, Rogan’s presence has boosted GETTR, as the site now has over 3 million users.
It is still a very young company, though, so if the platform does continue to gain traction, we could see a listing in the future. Moreover, considering how well some social media platforms have done on the stock market, it’s a great way to raise additional capital.
However, if GETTR is as much like Twitter as people suggest, it will also have trouble monetizing the platform. So keep an eye out in the future for a GETTR IPO, but for now, there is no way to invest in the company.
GETTR Controversies
If you don’t like to invest in controversial companies, you might want to hold off on your desire for GETTR shares. Not only did the platform get off to a rocky start, but it has been criticized for allowing some very extreme content.
This imagery includes things like pornography, violence, and racism. While sites like Twitter have these, too, numerous mechanisms are in place to detect explicit content. Some filters can block this content if you so choose. GETTR has none of these.
One of the pillars of GETTR’s foundation is that they claim to be ‘cancel-free.’ Of course, this is an obvious reference to Trump’s ban on social media.
Even though this is their claim, GETTR banned a far-right activist, which caused some ire amongst his supporters. Others were critical of the ban, but to this day, GETTR has yet to reverse it.
Even Arizona Republican senator Wendy Rogers said, “What is the point of a free-speech alternative to Twitter that doesn’t even honor free speech?” This could have an impact on GETTR stock if you could trade it.
What Social Media Stocks Can I Buy?
There are several prominent social media platforms that you can invest in on the stock market. Some are better than others, but most have proven good investments. Social media companies must find monetization methods, including ad revenues, premium subscriptions, and in-app purchases. Let’s look at some better social media companies to invest in.
Meta Platforms (NASDAQ: META)
However you feel about Meta Platforms or Facebook, the stock has proven to be a runaway train. If you missed the IPO, not to worry! Facebook stock took a while to get going and has had some serious hiccups. However, if you managed to hang on from the rocky start, you’re now up 768% on your initial investment. Not too shabby!
Facebook might be an unpopular business, but there is no denying its profitability and success. It also owns the popular content platform Instagram and is the global chatting leader in Whatsapp.
Now, Facebook is ready for its next chapter as it recently changed its name to Meta Platforms. This refers to the company taking on the Metaverse as the next iteration and evolution of the internet as we know it. If you have doubts about the stock, know it was the fastest company ever to hit a $1 trillion market cap. This stock should continue to go up for the foreseeable future.
Twitter (NYSE: TWTR)
Twitter is the platform GETTR is supposedly modeled after. Its the global leader in real-time news and information. Twitter recently received a jolt when long-time CEO Jack Dorsey stepped down to focus on his other company Block (NYSE: SQ). Former Chief Technology Officer, Parag Agrawal, took over for Dorsey, and investors have not been very happy about it. Shares of Twitter went down about 11% from the change in the corner office. If you were a Twitter investor, you certainly would not have had the same returns as Facebook’s stock.
There is no denying the success of Twitter’s platform, though. About 350 million monthly active users send over 500 million tweets daily. Twitter is known for its tweet character limit and not having an edit function. However, shareholders shouldn’t worry about GETTR stock moving in on Twitter’s market share, as the platform has become a legitimate form of communication worldwide.
SNAP (NYSE: SNAP)
The platform is called Snapchat and allows users to take videos up to 60 seconds long and send them to friends. One of the best parts about Snapchat is that these videos are automatically deleted forever once viewed. Of course, this has made Snapchat a popular platform for obscene material, as users hide behind the fact that they will be deleted from the internet forever. Snapchat has gained in popularity over the years, although it has recently been displaced by the popular new app TikTok.
Another hit against Snap? The stock took a major dive after Apple’s app tracking security features came into play. These new changes had a major effect on its ad revenue, although this was not felt on Facebook or Twitter. As a result, while Snap was trading mid-$80 early in 2021, shares are now trading below $10. This is still a more than 40% return since the stock’s IPO in 2017.
Make sure you know the difference between day trading vs investing when you’re looking to trade stocks like Snapchat and GETTR stock.
Digital World Acquisition Corp (NASDAQ: DWAC)
If you think this is a funny name for a company, it’s not the actual name. This is the SPAC shell company that is bringing the new social media platform, Truth Social, to the public market. What is so significant about Truth Social? It is a platform that was created by former President Trump. So many thought that this was the platform that would be doing what GETTR is doing now. Which right-wing conservative social media platform is the right one?
Truth Social is also anticipated to look and behave like Twitter. It will be interesting to see how Truth Social and GETTR can co-exist once it is launched. As for the stock it has officially reached meme stock status. Digital World Acquisition Corp gained over 1,000% at its peak and is still up more than 183% over the past year. For a SPAC stock to be valued at over $70 per share shows what social media sentiment and hype can do to a stock. What will Truth Social be like when it is released? From early reports, a lot like Twitter and GETTR which seems like a redundant market.
Should I Use the GETTR Platform?
It’s certainly up to your preference, and we won’t bring politics into this article. However, I believe GETTR seems to be struggling with its true identity. On the one hand, it claims that everyone is welcome. But on the other hand, it’s promoting things like racism and right-wing conservatism. That isolates a large part of its total addressable market and perhaps even dooms the site overall. Regardless of political affiliation, most people I know don’t want to be on a platform with this explicit content. GETTR needs to clean up its filters and provide a safe environment for people from all walks of life. Until then, I won’t use GETTR as a social media site.
GETTR Stock Final Thoughts
GETTR is a brand-new social media site primarily attributed to right-wing conservative views and ideas. It has a platform similar to Twitter, and although it claims to be cancel-free, it has already canceled some hardcore right-wing activists. The site has affiliations with former President Trump, who has his own social media site launching shortly. GETTR is a privately owned company, so you cannot be an investor even if you want to!
