Meta has announced its upcoming switch from its FB ticker on the stock exchange to META starting June 9th.
“Meta Platforms, Inc. (Nasdaq: FB) today announced that its Class A common stock will begin trading on NASDAQ under the ticker symbol ‘META’ prior to market open on June 9, 2022. This will replace the company’s current ticker symbol ‘FB’, which has been used since its initial public offering in 2012. The new ticker symbol aligns with the company’s rebranding from Facebook to Meta, announced on October 28, 2021,” says Meta.
Meta explains its shareholders need not do anything as a result of the change. The company’s stock will still be in the NASDAQ list. Only the label will change.
“When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology,” adds Facebook.
The metaverse is still vague at this point. It still needs to develop fully open, interactive digital realms. And these realms must allow users to transfer digital purchases from one platform to another.
Still, Zuck remains bullish on the prospects of its next stage. He admits it will cost the company billions of dollars before any meaningful returns.
“I want to live in a world where big companies use their resources to take big shots. Obviously, if people invest in our company, we want to be profitable for them. If employees join our company, I want to make sure that ends up being a good financial decision for them, too. But I also feel a responsibility to go for it. Use the position that we’re in to make some bets, and try to push forward in a way that other people might not,” explains Zuckerberg on Protocol.
Come 2030, the metaverse will be big. You can even start planning for your campaign inside the virtual realm. But it will take time. Capitalizing your tech stack makes sense. Then again, it has too many risks for smaller businesses.