Shares Unrelated To Oculus Jump In Correlation With Facebook News

Oculus Rift

Companies that have ‘Oculus’ in their names have had a brief increase of stock in the midst of the news of Facebook’s acquisition of Oculus Rift this week, although none of them are associated with the virtual reality company.

The Wall Street Journal reported that Oculus Innovative Sciences had a 15% jump in just minutes of opening. Oculus VisionTech experienced a 152 percent rise in the Canadian exchanges.

However, in both cases the market realized the mistake shortly after and most of the gains were given back. Oculus VisionTech even went as far as publishing a press release clear up the air, saying that it is in no way associated with Oculus VR Inc.

On the other hand, Facebook shares fell 7% after reports of the acquisition flooded the market. Oculus VR has no shares to trade because it is privately owned.

Not everyone is a fan of the acquisition, Minecraft creator Markus Persson took it to Twitter to announce that he has canceled plans of putting the game on the Oculus Rift because Facebook ‘creeps him out’.

Chris Atkins

Chris Atkins leads product development at PostalBit, is a writer, internet marketer, content coordinator, and startup founder. He has worked alongside serial entrepreneur and investor Jason Calacanis, and social media mogul Brendan Hampton. Chris previously managed social media and produced content for, and curated content for (sold to Bitly). He has spent years covering the business, technology, health, and finance sectors among many others.


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