‘Beautiful, after this the writer will use‘ Meta ’to refer to Facebook.’
Facebook rebranded to Meta Platforms Inc will officially use the ‘META’ ticker during the opening of today’s New York trading session.
It marks the end of the ‘FB’ ticker used since the first time it listed its initial public offering (IPO) 10 years ago.
Generally, the company changed its name to Meta Platforms 8 months ago as symbolic to its efforts in becoming a leader in the metaverse virtual world.
Following the company's journey, Mark Zuckerberg set up Facebook when he was 19 in 2004 to allow students to socialize via the internet.
Facebook’s popularity began to soar and in 2012, it became one of the largest tech giants during its IPO listing with a market capitalization of $ 104 billion.
After 2 decades of establishment, Facebook is growing through the acquisition of other social apps including WhatsApp and Instagram to become the most influential social media giant of its generation.
Even so, the ticker change doesn’t mean Zuckerberg’s company will end the Facebook app, it’s just a change in business patterns.
According to National Securities New York’s head of market strategy, Art Hogan, a ticker conversion usually signals a fundamental change in a company’s underlying business model yet it won’t lead to a big difference.
Meanwhile, Meta's shares are down 42% so far this year, despite various controversies including criticism from lawmakers and regulators over its market power.
