Meta will change its stock symbol from FB to META on June 9

When the company formerly known as Facebook announced plans to change its name last October, it also announced a new ticker symbol. At the time, executives said that after ten years as an FB, its NASDAQ listing would move to MVRS for the Metaverse. However, after the investment fund listed under META left the symbol in January, Meta Platforms quickly confirmed that it would use META instead, while announcing its first dip in daily active user counts. Now he has filed paperwork indicating the change will become official before the market opens on June 9 (via CNBC).

Right now, people still think of Meta as the home of Facebook, WhatsApp, and Instagram, but the plan is to do a lot more than these social media mainstays. Changing the company’s name was not enough to get all investors to buy into Mark Zuckerberg’s vision. Their patience is especially short given the combination of “headwinds” (competitors, regulators and the pandemic-hit economy) that company executives refer to when discussing various issues weighing on its growth in terms of growth. users and profitability.

Developing content for the metaverse and the augmented and virtual reality gear that will allow people to experience it is costing the company billions of dollars right now, with potential payoffs still in years to come. But as the new footer of its corporate statements says, “Now Meta is moving beyond 2D screens to immersive experiences like augmented and virtual reality to help build the next evolution of social technology.” Another branding item to drive this house might not hurt, at least while its next-gen headset makes nothing but cameos in blurry demo footage.


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