Unfriended: Meta drops FB ticker in exchange for META

Christopher Hutton

June 09, 11:11 AM June 09, 11:11 AM

Meta has taken a important move towards unfriending its id as Facebook, shedding its "FB" stock trade ticker in favor of "META."

The social media platform's stock is tradeable under the ticker META on Wall Avenue as of Thursday morning. The organization improved the ticker from FB to META as component of its initiatives to rebrand as Meta in hopes of continuing its pursuit of constructing the "Metaverse."

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The enterprise determined to delay relabeling its ticker as META until Thursday owing to an additional firm possessing the ticker. Exchange-traded fund Roundhill Ball Metaverse ETF at first had META as its ticker, prompting Meta to delay its acquisition of the META ticker right up until the 1st quarter of 2022. Roundhill declared in January that it was altering its ticker to METV.

Fb changed its company title to Meta in October 2021. Even though the decision was to begin with mocked, it has established the tone for the company's endeavors in "going over and above 2D screens toward immersive activities like augmented and virtual reality to enable create the following evolution in social technological know-how."

The transition has been rocky because of to the unexpected change in technological focus, slowing user expansion, and growing scrutiny inspired by whistleblowers like Frances Haugen. Meta has viewed its inventory fall additional than 40% in the past calendar year, according to the Motley Fool.

The organization has also experienced noteworthy management variations in the preceding 12 months, like COO Sheryl Sandberg and tech investor Peter Thiel stepping down from their roles at the enterprise.