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Facebook rebranding stock label from FB to META

Since going public, Facebook’s stock has been known as FB but after rebranding the company as Meta, it is also changing its stock listing to META. Initially, it had been gunning for a metaverse representation on the stock market as MVRS. However, an investment fund that was trading with META, left the symbol in January 2022.

Thus, from June 9, FB will be officially META on NASDAQ listing and the company has filed the necessary paperwork to that effect.

While things seem to be going well on all fronts for Meta, people in the know are painting quite a different story.

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For example, in February 2022, the company announced its first-ever quarterly drop in daily number of users. It also revealed that is stock was down by nearly 20 per cent.

Additionally, investors are getting impatient with the company’s several issues, especially regulations and new policies that prevent it from making as much revenue from ads like it used to in the past. This is not all, there is also the worry that a larger number of today’s young people are not fans of the platform, which they see as ‘old fashioned.’

Likely, this issues are part of what is motivating Zuckerberg to make Meta more than a social media conglomerate. With more to offer, the company can attract all sorts of users and customers. Moving into physical and hybrid product spaces are the next move for the company formerly known as Facebook.

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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.