Unfriended: Meta drops FB ticker in alternate for META

Meta has taken a big step towards unfriending its id as Fb, shedding its "FB" inventory alternate ticker in favor of "META."

The social media platform's inventory is tradeable underneath the ticker META on Wall Road as of Thursday morning. The corporate modified the ticker from FB to META as a part of its efforts to rebrand as Meta in hopes of continuous its pursuit of constructing the "Metaverse."

TWITTER TO PROVIDE ELON MUSK WITH 'FIREHOSE' OF INTERNAL DATA: REPORT

The corporate determined to delay relabeling its ticker as META till Thursday attributable to one other firm proudly owning the ticker. Change-traded fund Roundhill Ball Metaverse ETF initially had META as its ticker, prompting Meta to delay its acquisition of the META ticker till the primary quarter of 2022. Roundhill introduced in January that it was altering its ticker to METV.

Fb modified its company title to Meta in October 2021. Whereas the choice was initially mocked, it has set the tone for the corporate's endeavors in "shifting past 2D screens towards immersive experiences like augmented and digital actuality to assist construct the following evolution in social expertise."

The transition has been rocky as a result of sudden shift in technological focus, slowing consumer development, and rising scrutiny impressed by whistleblowers like Frances Haugen. Meta has seen its inventory drop greater than 40% within the final yr, in response to the Motley Idiot.

The corporate has additionally skilled notable management modifications within the earlier yr, together with COO Sheryl Sandberg and tech investor Peter Thiel stepping down from their roles on the firm.