Meta Platforms (META) has launched a new standalone app called “Forum” that’s designed as a dedicated platform for Facebook Groups.
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The app functions similarly to Reddit’s (RDDT) message boards and is described by Meta as a space built for discussions, answers, and communities. Reddit’s stock fell 5% immediately after Meta announced the new Forum app due to competition concerns.
In a statement, Meta said that Forum allows users to make posts with a nickname, similar to the standard Facebook app. Content posted to and shared on the Forum app will be visible across Facebook groups on the social media platform.
Group Conversations
Meta, which also runs the Instagram social media platform, said that the app’s feeds focus on group conversations, allowing users to see what people are saying rather than trending content. Forum includes an artificial intelligence-powered (AI) “Ask” tab that lets users pose questions and receive answers.
The new app also features an AI assistant that helps administrators manage group chats and moderate content. Forum is the second new app announced by Meta Platforms in recent weeks. In April, the company released “Instants,” an app that lets users share disappearing photos on Instagram.
Is META Stock a Buy?
The stock of Meta Platforms has a consensus Strong Buy rating among 38 Wall Street analysts. That rating is based on 31 Buy and seven Hold recommendations issued in the last three months. The average META price target of $817.71 implies 36% upside from current levels.
