Meta removes FB ticker in final farewell to Facebook era

After a decade of trading under the Facebook name, the social media giant is shedding the last vestige of its old corporate avatar as it begins trading under the symbol “META” on Thursday.

Meta Platforms Inc rebranded its eponymous social media platform in October 2021, betting that the metaverse, a shared virtual domain, will take over from the mobile internet.

Mark Zuckerberg, co-founder and CEO of Meta, created Facebook in 2004 from his Harvard dorm to allow students to meet over the Internet.

Little did the then 19-year-old student know that Facebook would become an integral part of many people’s social lives, with nearly three billion monthly users, and expand to include popular social media apps Instagram and Whatsapp in his universe.

Nearly two decades later, his company is pumping billions into the Metaverse, a futuristic idea of ​​virtual environments where users can work, socialize and play, adding new functionality to hardware devices that serve as access points. .

“Companies that change their official name and ticker are generally trying to signal that there has been a fundamental change in the underlying business model,” said Art Hogan, chief market strategist at National Securities in New York.

“I don’t know if it really makes a big difference. I always call them Google and Facebook,” Hogan added.

Meta shares have fallen nearly 42% this year as it battles criticism from lawmakers and regulators over its market power, algorithmic decisions and oversight of abuse.

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Meta removes FB ticker in final farewell to Facebook era

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