Published , by Donovan Erskine
Published , by Donovan Erskine
The recent Facebook Connect keynote featured some interesting announcements from Facebook CEO Mark Zuckerberg. Of all the random things talked about during the event, nothing topped the finale, when Zuckerberg announced that Facebook would be changing its company name to Meta. Following the name change, it’s also been revealed that Facebook will be using a new stock symbol, MVRS, starting on December 1, 2021.
Following the conclusion of the October Facebook Connect, Protocol reported that in addition to changing its company, Facebook will also be changing the symbol that it operates under on the stock market. The company’s stock will no longer be symbolized by FB, and will become MVRS, effective December 1. The decision to leave behind the Facebook branding is clearly about distancing the company from a lot of the negativity associated with Facebook, so it makes sense that it would also want to change the stock symbol for a similar reason.
Being one of the most influential companies in the world, Facebook’s stock is also one of the most traded and discussed stocks. Even after today’s keynote, the stock saw a lot of action as traders either bought or sold shares in light of the showcase.
As Mark Zuckerberg explained during the keynote, the name “Meta” is supposed to be more representative of what the company stands for, as it’s far grown beyond the limits of a social media business.
With how infamous of a name that Facebook has become, it will be odd as we all adjust to calling the company by its new name. Equally challenging will be remembering that Zuckerberg’s company will now operate under the MVRS stock symbol, starting December 1. For more on what’s happening with Meta, stick with us here on Shacknews.